Bitflyer and Zaif: what's new with Japanese exchanges?

Bitflyer, the largest cryptocurrency exchange in Japan, is implementing changes to its organizational structure, and the recently hacked exchange Zaif has stopped registering new clients.

Zaif, one of 16 regulated cryptocurrency exchanges in Japan, has suspended client registrations. Only users who submit applications before September 28 will be registered. 

“We are responsible for compensating all existing clients who were victims of leakage of funds, but to do this we need to concentrate our internal resources,” said representatives of the exchange.

The attack on the Zaif exchange was carried out on September 14, and was discovered only on September 17. The total damage is approximately 7 billion yen (~62 million US dollars). Approximately 5,966 BTC, 42,327 BCH and 6,236,810 MONA were stolen. The country's Financial Services Agency (FSA) sent the company a third order to improve its business, which the exchange is going to do now.

On Monday, October 1, the Bitfly exchange, which is owned by Bitflyer Inc., announced the creation of a holding company Bitflyer Holdings Inc., which will take ownership of the exchange and become the parent company of Bitflyer Inc. by transferring assets. The exchange confirmed that no interruptions in the provision of services to customers are expected. The purpose of creating a holding company is to separate administrative and operational functions, strengthen corporate governance and create a more robust compliance system for business operations. Yuzo Kano will become the CEO of the new company Bitflyer Holdings Inc, his place in the company Bitflyer Inc. will go to Nobuyoshi Suzuki, a former employee of Mitsui Bank Ltd.

According to https://news.bitcoin.com/