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About Zaif
Zaif Exchange: Japan's Regulated Platform with a Past Hack
Zaif is a cryptocurrency exchange based in Japan, launched in 2014. It operates as a licensed Digital Asset Service Provider (DASP) with the Japanese Financial Services Agency (FSA), signifying its compliance with strict local regulations.
Key Aspects:
- Japanese Market Focus: Primarily serves users in Japan, supporting Japanese Yen (JPY) trading pairs.
- Regulatory Compliance: After a major hack in 2018, Zaif underwent a major overhaul and was acquired by FISCO (later CAICA Exchange Inc.), leading to its current fully licensed and compliant status with the FSA.
- Cryptocurrency Selection: Offers trading for various cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Monacoin (MONA), and others, with JPY and BTC pairs.
- Trading Options: Provides spot trading, margin trading, and unique services like "Coin Reserve" (periodic purchase plans).
- Security: Employs cold storage for assets and 2FA, having significantly strengthened its security post-hack to meet regulatory demands.
Past Incident:
- 2018 Hack: In September 2018, Zaif suffered a major hack, losing approximately $60 million in Bitcoin, Bitcoin Cash, and Monacoin. A portion of the stolen funds belonged to users.
- Post-Hack Recovery: Following the incident, the exchange was acquired and worked diligently to enhance its security and operational integrity, eventually regaining its FSA license.
Summary:
Zaif is a fully regulated Japanese cryptocurrency exchange that has rebuilt its operations following a major hack in 2018. Under new ownership and strict FSA oversight, it focuses on providing compliant and secure services for the Japanese market, offering various crypto assets and trading features.