Following the notorious hack of the Bitcoin exchange, Zaif exchange, Tech Burea Inc. which has Zaif as a subsidiary has announced their intention to suspend subsequent new account registrations for the time being.
The announcement has been released exactly two weeks after the hacking incident, with the exchange pledging to refund and repair the damages to their customers after 6000 Bitcoins were stolen (more than $60 million). Earlier last week, the company revealed a new partnership with Fisco, in a bid to salvage all loss and to compensate its customers. The Japanese investment management company, which was said to offer more than about $45 billion bailout agreement to Zaif, is now reportedly still “under examination.”
According to Tech Bureau Inc., the deal is still some way far from closed and is presently under certain negotiations. Tech Bureau stated:
“After concluding the basic agreement, we are advancing consultation and negotiations for concluding a formal contract, there is no change in the policy to ensure thorough compensation for customer assets, and we are continuing to consider the details of specific response…As soon as the content is confirmed, we will report it promptly.”
However, the exchange has moved to prevent new potential users from registering, for a temporary period of time. The company believes new users signing up during the reimbursement policy would not be ideal. The temporary restriction would only affect completely new sign-ups though as existing customers who are still waiting on ID verifications would not be affected.
FSA Fulfills Promise with New Investigation
The Financial Services Agency (FSA), based likewise in the country of Japan had expressed their ‘regret’ in not cracking down on Zaif much earlier, only a fortnight ago. The investigative agency has finally begun action as they implied, as they confirm the launch of its investigation on Zaif exchange.
The FSA continues to probe sources and examine user protection systems, as they hope to salvage the troubling situation in the country as total thefts related to cryptocurrencies exceed $530 million, within six months.