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Japan’s Zaif Struck With Penalties After $60 Mln Theft

  • Today, Japan’s Ministry of Finance struck the licensed cryptocurrency exchange Zaif with ‘administrative penalties,’ as a consequence of last week’s theft

Cover image via U.Today

Today, Japan’s Ministry of Finance struck the licensed cryptocurrency exchange Zaif with ‘administrative penalties,’ as a consequence of last week’s theft.

The Tech Bureau’s exchange is now obliged to determine the facts and the causes of the hack, formulate and execute measures to prevent another attack and the expansion of damage. Further, it has to respond to the customers in regard to their losses as well as review and implement the effective improvement plans.

This is the second business improvement order received by Tech Bureau in the space of three months.

About the author

Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

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