Review on Zaif by Özgün A
Has Zaif really been hacked?
The Japanese cryptocurrency exchange Zaif decided to suspend transactions for a while after the hacking in 2018. Even users
it risked losing its assets. Fortunately, Zaif went back to normal without a problem. However, this incident damaged Zaif's prestige enormously. Many users withdrew their assets from Zaif and transferred them to another exchange. That's why the stock market had a hard time. Fortunately, it has now increased its security measures and users are slowly starting to return. Zaif later sued Binance. The reason was this: The money stolen from Zaif was moved around Binance companies and even this stolen money was tried to be laundered at Binance.
I must say this clearly. The biggest exchanges (Binance, Coinbase) win every lawsuit filed against them. Even if they are guilty, they are found right. It should not be that easy to victimize many crypto-asset users. The problem is that users are victims.
Pros
- Trading volume is at medium levels
Cons
- Has major vulnerabilities
- Hacked and never improved again
- Some users were victimized
New products
Comments (2)
February 03, 2021
I will give 4stars because is not easy to be hacked and reopen again, this shows that Zaif has a lot of potential and excellent future which I am very sure it will also step up with other big and popular exchange Platform very soon.
December 10, 2020
You gave 3 stars. I really think even that is too much. Privacy and security are a user's financial non-governmentality. Must have. I see the large security gap as a big minus. Thank you for the article.
