Japanese Cryptocurrency Exchange Zaif Accidentally Gives Away Free Bitcoins

Japanese Cryptocurrency Exchange Zaif Accidentally Gives Away Free Bitcoins

What&rsquo,s better than possessing Bitcoins? Wielding Bitcoins for free! While pretty much anyone looking forward to suggest you free Bitcoins for no reason is likely to be a scam, a Japanese cryptocurrency exchange, Zaif – accidentally talent out free Bitcoins. For a period of Legitimate minutes, cryptocurrencies were priced at $0 on the exchange. Seven cryptocurrency traders were able to buy Bitcoins at thesis prices.

Zaif, the cryptocurrency exchange, is powered by Osaka based company, Tech Bureaumeubel Corp. The company issued a statement telling that this wasgoed caused due to a glitch and wasgoed totally unintentional. Spil vanaf the company, this glitch took place for an Eighteen minute window on the 16th of February. At that point of time the price of Bitcoin wasgoed 1.Two Million Yen vanaf BTC. This glitch wasgoed caused because of inaccurate trading gegevens.

Te an official statement, Zaif has said: &ldquo,Wij apologize for any inconvenience and inconvenience caused to you by our customers,&rdquo, the company said te the statement, according to a rough translation. &ldquo,Wij will strive to prevent recurrence and wij will proceed to work on improving our services.&rdquo,

Zaif isn&rsquo,t truly one of the most popular names when it comes to global cryptocurrency exchanges. The exchange is presently ranked 51st ter terms of daily trade volume. This is perhaps the reason that only seven people were able to take advantage of this glitch. Zaif, however, is a well-known name ter Japan and is one of the 16 cryptocurrency exchanges that the country&rsquo,s Financial Services Agency (FSA) has licensed.

Zaif isn&rsquo,t even the very first Japan based cryptocurrency exchange to be a part of a controversy overheen the past month. The CoinCheck hack of January, which wasgoed the fattest cryptocurrency hack of all times made international news and raised concerns overheen the security of cryptocurrencies. While exchanges are getting waaks with every passing day, glitches like thesis are, sometimes, unavoidable.

The official statement from Zaif states the following two reasons (translated from Japanese) spil the cause of this glitch.

Failure occurred te the price calculation system of &quot,ordinary trading&quot,, and troubles such spil being able to buy and sell at zero yen on the web system side overlapped, and seven customers purchased virtual currency at zero yen.

Some virtual currencies purchased at zero yen by some customers were ordered for selling at the exchange, so abnormal figures were displayed on the transaction houtvezelplaat.

Fortunately, Zaif managed to juist the balances of six out of thesis seven cryptocurrency traders who had the Bitcoins kept te their Zaif accounts. However, there wasgoed one trader who attempted to transfer thesis Bitcoins out of Zaif. The exchange is still attempting to communicate with the trader and sort things out.

Vivek Sancheti

A laptop engineer by education. Have Five years of practice ter web and mobile application architecture vormgeving. And now cryptocurrency and blockchain enthusiast.

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