The crypto currency exchange Zaif revises the estimates of the break-in

[Paha87]

The recently hacked crypto-exchange Zaif revised the amount of theft of funds, after discovering that in addition to the 5'966 stolen BTC, another 42'327 BCH was stolen. The chief financial regulator of Japan issued instructions to improve business for the company.

The Japanese financial services Agency (FSA) has issued a third order to improve the maintenance of Tech Bureau Inc. - the parent company of Zaif crypto-exchange, which was hacked on September 14. At its disposal, the FSA provided the firm with time until September 27 to submit written reports clarifying the situation.

The security issue of Zaif was previously outlined in the March business improvement order. The on-site inspection of the exchange at that time revealed systemic failures and multiple cases of unauthorized withdrawals. The regulator noted that the crypto-exchange team did not"take appropriate measures to prevent the recurrence of incidents and did not provide its customers with proper disclosure of information."

Zaif is reviewing the volume of theft
When Zaif first discovered the security breach last week, it was confirmed that only 5'966 BTC was stolen. Since then, the exchange has discovered that 42'327 BCH and 6'236'810 MONA were also stolen by hackers as a result of hacking.

The exchange also revised the overall theft estimate, increasing the claimed damage figure to about 7 billion Yen (~$62 million), of which 4.5 billion Yen (~$40 million) were customer assets.

Zaif customer return plan
Tech Bureau explained that after detecting the breach, the company signed an Alliance agreement with Fisco Digital Asset Group Co. Ltd., a subsidiary of Fisco Corporation, registered with Jasdaq, which is to assist in the repayment of debts to customers in exchange for the majority of shares of the company owning the crypto-exchange.

Fisco independently announced last week that its underlying agreement with Tech Bureau includes "a financial support volume of 5 billion yen [~$44.3 million]", which the company believes is sufficient to cover customer damage. "If the total damage will fluctuate after a future investigation, we will consider this issue again," - said the company.

In addition, Tech Bureau has entered into an agreement with another company registered with Jasdaq, Caica Corporation, to obtain technical support to improve its security system.

Link to the source of information (Russian) - https://altstake.io/news/kriptobirghazaif-peresmatrivaet-ocenku-vzloma