Zebpay Reduces Intraday Fees Drastically

If Zebpay users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions
05 April 2018   497

One of the largest crypto-currency exchanges in India, Zebpay, has announced a drastic reduction in fees for intraday transactions. From April 2, if users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions.

For example, if you buy 2 bitcoin (BTC), and sell 1.5 BTC on the same day, you will be eligible for the 0.1% fee on the buying and selling of 1.5 BTC. For the remaining 0.5 BTC, the usual low Zebpay fee will apply.
 

Zebpay Announcement

Zebpay stated in the announcement that Bitcoin and other cryptocurrencies display a lot of price volatility, and day traders who try to gain from this volatility can now benefit from Zebpay’s low intraday fee of 0.1%.

Zebpay fee announcementZebpay announcement regarding fees

It it worth noting that for the purpose of intraday rebates, “same day” is the period from midnight-of-a-day to midnight-of-the-following-day. At the time of making the transactions, the users will be charged the usual low Zebpay fee. On the following day, after checking thier intraday trades, Zebpay will automatically refundthe users the extra fee that was charged earlier.

Previously, we have reported that Zebpay cryptocurrency exchange announced the beginning of support for Litecoin.

$60M Stolen From Zaif Exchange

As a result of the attack, which occurred as early as September 14, 4.5 billion yen owned by its users were stolen from the hot wallets of the exchang
20 September 2018   364

Hackers were able to steal almost $ 60 million in cryptocurrencies from the Japanese crypto-exchange Zaif, Cointelegraph reports.

As a result of the attack, which occurred as early as September 14, 4.5 billion yen owned by its users were stolen from the hot wallets of the exchange, as well as 2.2 billion yen, which was the company's assets. Thus, the total loss of Zaif amounted to 6.7 billion yen or about $ 59.7 million.

Tech Bureau Inc, which is the operator of Zaif, in a press release says that it found a server error on September 17, after which the input / output of funds on the exchange was suspended. September 18, the company realized that the error was caused by a hacker attack, and reported the incident to the Financial Services Agency of Japan. Hackers stole 5,966 bitcoins, as well as assets in Bitcoin Cash and MonaCoin.

According to Tech Bureau Inc, Fisco Digital Asset Group will help to partially compensate for the damage caused to users by providing 5 billion yen ($ 44.5 million). Tech Bureau agreed with Fisco to dismiss more than half of its directors and corporate auditors, and Fisco in turn will become its main shareholder.

Earlier this year, Zaif already recognized the existence of a "system malfunction", using which, the clients of the exchange were temporarily able to credit trillions of dollars in their accounts with bitcoins.