Zaif

Zaif is a Japan-based cryptocurrency exchange that provides a platform for trading digital assets such as bitcoin, bitcoin cash, and MonaCoin. The company is headquartered in Japan and operates as a licensed virtual currency exchange under the country’s financial regulatory framework. Its core service involves matching buy and sell orders for various cryptocurrencies through an online trading interface. Zaif’s platform enables users to execute transactions involving the supported digital assets. As a licensed entity, it is subject to oversight by Japanese financial authorities.

In September 2018, Zaif suffered a security breach in which attackers gained unauthorized access to its hot wallets and stole approximately sixty million dollars worth of bitcoin, bitcoin cash, and MonaCoin. The exchange detected abnormal fund outflows, promptly suspended trading and withdrawal services, and later disclosed that its reserves were insufficient to cover the losses incurred. To address the shortfall, Zaif secured an investment of forty‑four point five million dollars from another firm, which received a majority ownership stake in the company as part of the deal. The incident represented the second major hack targeting a licensed cryptocurrency exchange in Japan during that year, prompting heightened scrutiny from regulators. Prior to the breach, financial authorities had issued enforcement actions against Zaif for identified security deficiencies. Following the breach, criminal investigations were launched, and the investment resulted in a change of ownership with the investing firm becoming the majority shareholder.