Zaif Exchange Resumes, Acquiring New Account Openings From June 6, 2020

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • A virtual currency outburst in September 2018, Zaif discontinued accepting new accounts from September 28, 2018.
  • The Tech Bureau notified in a press release that it would resume new registrations shortly.
  • For a $44 billion bailout agreement, Zaif has reached out to Fisco, a Japanese investment management company.

Today Zaif, a virtual currency exchange announced that the exchange will resume on coming June 6, welcoming new account openings from 18:00 on the commenced day.  Following a virtual currency outburst in September 2018, Zaif discontinued accepting new accounts from September 28, 2018.

Zaif Exchange’s suspension story

The decision of suspension of new account registrations on Zaif exchange came on September 28, 2018. This is due to a hacking incident that took place at Zaif exchange resulting in damage of more than $60 million.

The Tech Bureau notified in a press release that it would resume new registrations shortly as the exchange is working on a concrete plan for compensating their customer. For a $44 billion bailout agreement, Zaif has reached out to FISCO, a Japanese investment management company.

It was then transferred to FISCO virtual exchange in November of the same year. Further, it was transferred and changed by the regulating company.

Due to this consideration, the deposits and withdrawals of cryptocurrencies, Monacoin, Bitcoin and Bitcoin Cash successively resumed, and the Zaif Payment service, which had been suspended in November this year, was also resumed.

The system integration of Zaif with FISCO crypto exchange was completed on February 12 and also, these two exchanges have been joined in terms of service systems.

About Zaif Exchange

The virtual currency exchange Zaif blow in three Cryptocurrencies, Bitcoin (BTC), Bitcoin Cash (BCH) and Monacoin (MONA). Until September 2018, it was ranked as the 35th largest crypto exchange in terms of turnover. It was one of the authorized exchanges regulated by the Japanese Financial Services Agency (FSA).

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