Zaif Exchange and Zaif Instant Exchange Users

Request for Customer Consent to Transfer of Liabilities and Contract


Last update date: 10 22, 2018

On November 22nd, 2018, Tech Bureau, Corp (hereafter, referred to as "Our Company"), will conduct a Transfer of Business (hereafter, reffered to as "Transfer") of the Zaif Exchange and Zaif Instant Exchange (hereafter, referred to as "Zaif") businesses (hereafter, referred to as "Zaif Service") to Fisco Cryptocurrency Exchange, Inc (hereafter, referred to as the "Transferee", as based on the Transfer of Business contract that was signed between Our Company and the Transferee on October 10th, 2018.

As previously acknowledged, a portion of the Bitcoin, Bitcoin Cash, and Mona Coin that was entrusted to Our Company by our customers was leaked when Zaif was hacked (hereafter, referred to as "Hacking Incident") on September 14th, 2018.
This Transfer of the Zaif Service from Our Company, which was damaged in the Hacking Incident, to the Transferee is being done in order to allow our customers to continue using the Zaif Service.

In the case that our customers consent to the Transfer, all liabilities, as well as our contractual position listed in the Zaif Terms of Use, will be inherited by the Transferee. For customers who have consented to the Transfer, the Transferee plans to conduct the below actions in regards to the cryptocurrency entrusted to Our Company as well as the Zaif Service.
However, the Transferee will not be taking any actions in regards to the Hacking Incident outside of those listed below. In the Transfer Contract with our company, the Transferee has no duty to carry out any actions outside of those listed below. We appreciate your understanding.
Furthermore, please bear in mind that Our Company will, as a rule, no longer bear any liabilities in connection with the Zaif Service for those customers who have consented to the Transfer.

1.Bitcoin and Bitcoin Cash

  • The Transferee will inherit the obligation to ensure the return of Bitcoin and Bitcoin Cash (including the Bitcoin and Bitcoin Cash that was leaked) that Our Company has towards our customers.
  • All services at Zaif will be provided by the Transferee after the Transfer execution date.
  • Currently, all are being made to ensure the restart of cryptocurrency deposit and withdrawals services. However, we currently cannot provide a concrete date for when this restart will occur. This date will be announced at a later time.

2.MONA Coin

  • In regards to MONA Coin, the Transferee will inherit the obligation to return 60.3% of the amount of MONA Coin that our customers entrusted to Our Company.
  • In addition, the Transferee will inherit and convert the obligation to return 39.7% of the amount of MONA Coin entrusted to Our Company by our customers to an obligation to a return of cash.
    This amount of MONA Coin will be converted to Japanese Yen at a rate of "1 MONA Coin = 144.548 Yen" (a rate calculated as the average value between the market prices of BitFlyer and BitBank at 9am on October 9th, 2018).
  • Furthermore, MONA Coin trading has been suspended on Zaif as of 5PM on October 10th, 2018. Trading, deposits, and withdrawals of this cryptocurrency are being planned to restart after the Transfer execution date. However, we currently cannot provide a concrete date for when this restart will occur. This date will be announced at a later time.

Customers that have not consented to the Transfer will continue to have their liabilities and contractual relationships related to the Zaif Service remain with Our Company. No liabilities, privileges or relationships will be created with the Transferee.
As stated in our press release on October 10th, 2018, titled "Notice Regarding Formal Contract Signing and Financial Assistance for Our Customers’ Assets" (please refer to 2. Transfer of Business Agreement (Formal Contract) Execution), Our Company plans to abolish our Cryptocurrency Exchange Registration and undergo proceedings to dissolve our company. As a result, there is a very high possibility that our company will not be able to provide services related to the Zaif Service to our customers.
Additionally, when taking into account Our Company's current financial situation, there is a possibility that Our Company will not be able to handle claims for the return of cryptocurrency, or other claims from customers who have not consented to the Transfer. We appreciate your understanding.

All services at Zaif (Major currency and token trading, ZaifAPI, Instant Exchange, Margin Trading, AirFX, Zaif Coin Reserve, and all other services) will be provided by the Transferee, Fisco Cryptocurrency Exchange, Inc after the Transfer of Business execution date.

In consideration of the above information, we sincerely request your consent to the transfer of the liabilities, as well as the contractual position in the Terms of Use, that Our Company possesses with you.
Finally, in that case that you consent to the Transfer, you agree that the provision in Article Number 19 in the Zaif Exchange Terms of Use (No Assignment) will not be applied in the Transfer.