Japanese cryptocurrency exchange Zaif announced that it is resuming business this week after it suffered a hack that resulted in about $60 million lost last year. According to CoinDesk, the exchange has been taken over by publicly listed Japanese investment firm Fisco.
Zaif lost about ¥7 billion ($62.5 million USD) in bitcoin, MonaCoin and Bitcoin Cash during its September 2018 hack. After the incident, registration of new members was suspended, while trading, depositing and withdrawing of MonaCoin were frozen on October 10, 2018. Those services are set to be reinstated on Tuesday (April 23).
The exchange has already refunded users who lost holdings as a result of the hack. Cybersecurity experts at Japan Digital Design, a subsidiary of Mitsubishi UFJ Financial Group (MUFG), said it was able to identify the “source” of the hack, and shared the information with authorities.
In other news, tennis star Serena Williams announced in an Instagram post that she has invested in crypto exchange Coinbase. Williams used the social media site to list some of the investments made by her venture capital firm Serena Ventures, which included Coinbase.
“In 2014, (yes, I know I can keep a secret) I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries. Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity,” she wrote in the post, according to CoinDesk.
It is unknown how much was invested in Coinbase, but the firm’s website states that the company’s portfolio boasts over 30 firms, with a total market capitalization of $12 billion. In addition to Coinbase, Serena Ventures has invested in various other startups, including fitness, clothing, food, women’s health and community.
Williams seems to be following the lead of her husband, Reddit Founder Alexis Ohanian, who was an early investor of Coinbase through his own venture capital firm, Initialized Capital.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More