Free Bitcoin Giveaway from a Japanese Exchange!

Free Bitcoin Giveaway from a Japanese Exchange!

Zaif is one of the 16 bitcoin exchanges that is licensed by Japan’s Financial Service Agency (FSA). It stated that for approximately 18 minutes on Feb. 16th Bitcoin was “worth zero” which is a discount of 1.2 million yen.

Seven customers were able to purchase the Bitcoin at 0 yen rate and since the glitch has occurred the company has corrected its customer's balances. As it continues to fix this matter, it did have some hiccups with one trader's balance as it seems like he attempted to transfer the funds out of the exchange following the transaction.

It reported inaccurate trading data due the glitch in the system but really didn’t affect the transaction of other traders.

 “We apologize for any inconvenience and inconvenience caused to you by our customers,” the company said in the statement, according to a rough translation. “We will strive to prevent recurrence and we will continue to work on improving our services.”

Looking at the data from Coinmarketcap, Zaif processed $17 million worth of trading volume over the past 24 hours – this doesn’t include the volume of Bitcoin even with abnormal activities.

The FSA is continuing to inspect these Japanese Exchanges following one of the biggest hacks that occurred at the end of January

The 16 licensed exchanges are currently in process to establish a self-regulatory that will be registered with the FSA.