Japanese cryptocurrency exchange, Zaif, was hacked late wednesday (September 19, 2018) and lost approximately 6,000 BTC (Ex: $39 Million USD) alone, while also losing a significant amount of Bitcoin Cash (BCH) and Monacoin (MONA). The total amount that was stolen was roughly $60 Millions USD.
Read More about... Elon Musk Smoking Marijuana?
Prior to the the hack, Bitcoin was priced at around $6,340 USD before it collapsed and news broke out and Bitcoin bottomed out at $6,100 USD. Hours later the price jumped to $6,550 USD before stabilizing to today's general price of $6,500 USD (September 20, 2018 | 2000 EST). This is the second major hack for a Japan-based company, an earlier hack resulted in over $500 Million USD worth of NEM tokens stolen from Coincheck in January this year. It seems that this flash crash and this hack of a popular exchange did not have a massive effect on global Bitcoin prices. In the last 24 hours, Bitcoin is up by about 1.5% so far.
Zaif, which is owned by the Tech Bureau, has officially made moves to payoff users who are mass withdrawing from their services, and has filed a formal report with the local Japanese authorities in order to find the culprit behind the attack. Reports say, Zaif was aware of suspicious activity of mass amounts of funds moving around through the network days prior to the attack. Zaif has also made a deal with Japanese firm, Fisco, which will bring in over $40 million USD worth of funds so that Zaif can pay off users (Zaif claims to also have roughly more than $20 million USD in reserves).
