Published
5 years ago on
September 20, 2018
"We decline to comment on the details of how this illegal access occurred, as it is a crime and we've already asked the authorities to investigate. We will prepare measures so that customers' assets will not be affected."In addition to this, Zaif have commented that they are able to seek compensation through a major shareholder, although I’m not sure lending is the best way to climb out of a hole quite this large. What has happened here? Zaif have declined to comment on exactly how the hack has taken place, which leads us to believe it can only be down to a major security flaw or vulnerability that existed as a result of a lack of care and attention by Zaif. We know that this hack was carried out through some sort of malicious server access, though we can’t tell if it’s remote, or perhaps even something internal, therefore we could speculate that this may have taken place from inside the walls of Zaif so to speak.For now, we expect to hear a more formal announcement with regards to what has happened, after this, we will expect to see a more detailed plan about how Zaif and Tech Bureau aim to overcome this. Indeed, Zaif will bounce back with tighter security protocols and will eventually be able to operate as they where, however,, this event will have a very damaging impact on the reputation of Zaif and of course, we expect that over the afternoon that it could have a slight impact on the value of the markets, which otherwise at the time of writing are looking quite stable. Bitcoin is up 0.81%, Ethereum is down just 0.86% and EOS is up 2.67%, this afternoon though, things are now likely to take a slight downturn. References CBS News Investment Disclaimer
