Tech Bureau also revealed that as the company's majority shareholder, FISCO Digital Asset Group will provide them with 5 billion yen (about $44.5 million) in assistance to help Zaif Exchange cover the loss of its customers' assets.
According to CoinMarketCap, Zaif is not a large cryptocurrency exchange and is currently ranked 101st in the world in terms of trading volume.
However, the event itself could have a major impact on the Japanese cryptocurrency industry. In January, CoinCheck, a leading Japanese cryptocurrency exchange, was hacked and lost nearly half a billion dollars. Subsequently, the Japan Financial Services Agency launched a series of security inspections and oversight efforts. But even so, the hackers still managed to find the vulnerability in the cryptocurrency exchange once again and successfully carried out the attack.
Recently, the Japanese Financial Services Agency announced that it will be processing a large backlog of applications for cryptocurrency exchange licenses. However, with the revelation of this hack, it is not known if it will cast a shadow over the future approval of exchange licenses.
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