Japanese Crypto Exchange Unintentionally Gave Bitcoins Away For Free

On Tuesday, February 20, a cryptocurrency exchange by Zaif, an Osaka-based Tech Bureau Corporation, has revealed in an official statement that a technological error enabled several traders to purchase Bitcoin in exchange of NOTHING. Not at all a bad bargain considering its fair market value of approximately 1.2 million yen.
According to Zaif, the glitch occurred during an 18-minute window last Feb. 16, wherein seven customers were able to purchase BTC at a rate of 0 yen. The company then immediately corrected the customer’s balances except for one, who tried to transfer the coins out of the exchange right after the transaction.
The glitch caused the system to temporarily declare inaccurate trading data, but otherwise had no effect on the platform’s other users. The company issued a statement saying, “We apologise for any inconvenience and inconvenience caused to you by our customers. We will strive to prevent recurrence and we will continue to work on improving our services.”
The Japanese Financial Services Agency (FSA) conducted spot inspections of these exchanges following a hack in Coincheck that occurred at the end of January. The said hack resulted into $530 million worth of NEM tokens, making it the largest cryptocurrency heist ever.

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