Glitch at cryptocurrency exchange site zaif

The Tech Bureau Corp behind Zaif is now facing an investigation into the safety of the system and other business practices from Japanese authorities, the newspaper added. If you can’t find a cryptocurrency exchange in the list above and want it to be added, post a link to it by opening an issue here on GitHub or send us an email. Home Business News. The blatantly erroneous nature of the order resulted in Tech Bureau, the Osaka-based firm that operates the Zaif exchange, identifying and resolving the issue by p. While an official Japanese stance on crypto regulation is forthcoming, the 16 operational exchanges currently active in the Japanese market are set to form a self-regulatory body in April. You can also clone it into your project directory from ccxt GitHub repository :. Jul 15,

Japanese Regulators on High Alert

Last Updated on February 22, The incident is yet another reminder that the cryptoverse — and its infrastructure — is still premature. Unsurprisingly, a few users — seven to be exact — tried to take advantage of the eye-popping error. Zaif employees quickly discovered the problem and promptly voided the transactions. Reuters reported that Zaif is still resolving the incident with one of stie traders that attempted a withdrawal during the glitch. Zaif was one of the 16 cryptocurrency exchanges that recently registered with the Japanese government in order to bring its operations into the mainstream. The challenge of balancing hypergrowth with maintaining security will certainly be a dynamic to watch when it comes to cryptocurrency exchanges in general in the months ahead.

Oops, No Deal!

More bad news from cryptocurrency exchanges in Japan. The Japanese exchange Zaif suffers an embarrassing glitch that temporarily allowed traders to obtain Bitcoin BTC for free. The impacts on other clients were minimal, causing a temporary report of inaccurate trading data. Tezos uses an alternative consensus mechanism to proof-of-work mining — the system built into the largest cryptocurrency by market cap, bitcoin. Called proof-of-stake, the alternative mechanism rewards network users for holding onto its coins and thereby helping protect the network. The exchange has also added Tezos to Coinbase Earn, a program aimed at educating the public about crypto, and will give out XTZ to participants completing educational videos.

Get the Latest from CoinDesk

Last Updated on February 22, The incident is yet another reminder that the cryptoverse — and its infrastructure — is still premature. Unsurprisingly, a few glitch at cryptocurrency exchange site zaif — seven to be exact — tried to take advantage of the eye-popping error. Zaif employees quickly discovered the problem and promptly voided the transactions. Reuters reported that Zaif is still resolving the incident with one of the traders that attempted a withdrawal during the glitch.

Zaif was one of the 16 cryptocurrency exchanges that recently registered with the Japanese government in order to bring its operations into the mainstream. The challenge of balancing hypergrowth with maintaining security will certainly be a dynamic to watch when it comes to cryptocurrency exchanges in general in the months ahead. Does this incident make you a little bit more weary about centralized exchanges, or do you trust your trading flow?

Sound off in the comments. Skip to content. Remember, all trading carries risk. Views expressed are those of the writers. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site. About William Peaster.

THE CRYPTOBASE

How much did they try to pull out? However, it was still trying to resolve the issue with one customer who tried to transfer the bitcoins out of the exchange, a company spokesman told Reuters. Author Sam Town. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Jun 30, A cryptocurrency exchange in Japan reportedly experienced a temporary glitch tlitch week that suddenly offered investors their pick of coins for the low, low price of zero dollars. Zaif, which is run by Tech Bureau Corp, and registered by the government, said that an error occurred with its price calculation system, allowing seven users to buy some digital coins for zero yen. According to Reutersit was possible to buy cryptocurrencies for free on the Zaif exchange for about 20 minutes on February 16th.