Japanese cryptocurrency exchange Zaif, has been bought out by a rival Japanese cryptocurrency exchange. Fisco has taken over operations of Zaif following a takeover of the company.
Zaif exchange made headlines recently following the massive $60 million hack that occured on its platform.
The Japanese regulated exchange has completed the transfer of all business to Fisco exchange, and Fisco will now run both exchanges as separate services.
The sale comes following the hack of Zaif exchange which set back the exchange by roughly $60M. Fisco agreed to assist the exchange with financial support in order to help Zaif pay back its clients. The two parties entered into a “capital alliance enabling acquisition of a majority of the company’s shares.”
Bitcoin.com reported that Zaif have issued a statement on their website directing users to accept the transfer of the exchange in order to continue using the services. Currently, the depositing and withdrawals of BTC, BCH, and MONA are suspended. These are the three cryptocurrencies that were stolen during the hack in September.
Zaif and Fisco exchange are both currently regulated in Japan, with only 14 other exchanges regulated in the country.