Bitcoin
Japanese Crypto Exchange DMM Bitcoin Suffers $305 Million Hack
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4,502.9 BTC ($305 million) were stolen from the exchange.
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DMM Bitcoin said it will guarantee the full amount stolen.
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All cash purchases have been temporarily restricted and customers withdrawing yen may face delays.
DMM Bitcoin, a Japanese cryptocurrency exchange, said it lost 48 billion yen ($305 million) worth of bitcoin {{BTC}} following a hack.
On a blog post On its website, DMM Bitcoin said that 4,502.9 BTC were “leaked” from the exchange. Measures were taken to prevent further unauthorized departures.
Data provided by security company Blocksec shows that the hacker split the stolen bitcoin in 10 wallets in lots of 500 BTC.
“Rest assured that we will acquire the equivalent amount of BTC equivalent to the exit with the support of group companies and guarantee the full value,” said DMM Bitcoin.
The exchange restricted all cash purchases on the platform and added that Japanese yen withdrawals “may take longer than usual.”
More than $473 million was lost to cryptocurrency hacks in 2024, before this theft, which is the second largest in Japan, as Coincheck was hacked for 58 billion yen in 2018.
UPDATE (May 31, 16:25 UTC): Adds Blocksec data on flow of stolen funds, paragraph on crypto hacks in 2024.