Cryptocurrency traders have recently bought free cryptocurrency at Zaif exchange due to a system glitch that occurred. Though the exchange has not yet named which coins were involved, it said in their blog post that one of the traders who got free Bitcoins tried to transfer about $20 trillion worth of Bitcoins out of the exchange according to a Local news site, The Asahi Shimbum.
According to Zaif exchange, 7 traders of the Japanese exchange bought cryptocurrencies completely for free due to a glitch in its price calculation system leading to the traders buying cryptocurrencies for zero yen.
Thought the exchange has not yet declared how much worth of cryptocurrencies besides the $20 trillion was bought, it, however, said 6 out of the 7 trades have been contained and coins reverted while the 7th trader has attempted to transfer the free Bitcoins out of the exchange.
It is however said that they are currently trying to rectify the issue with the 7th trader according to comments by a spokesperson to Reuters.
Zaif exchange is run by Tech Bureau Corp and is one of the 16 cryptocurrency exchanges that were registered and recognised by the government a few weeks back.
The problem was discovered on the 16 of February and made known to the public on the 20th of February via the company’s blog. The company has also reassured its traders that no customers will be affected by this system failure and apologized for what happened.
Japan is currently regarded as one of the most crypto friendly nations given the warm and receptive attitude shown by its government towards cryptocurrencies. It is also very common to see goods and services being exchanged for Bitcoin in Japan.
Nevertheless, the country was a victim of one of the biggest cryptocurrency hacks ever recorded, though it’s traders and crypto enthusiasts have remained steadfast as the hack hasn’t tampered the trust Japanese traders have towards cryptocurrencies.
Source https://crypto-lines.com/2018/02/21/free-cryptocurrency-at-zaif-exchange/
