Japanese cryptocurrency exchange DMM Bitcoin disclosed a major breach that resulted in the loss of 4,502.9 BTC, equivalent to $305 million, to hackers. According to data provided by security firm Blocksec, the stolen funds were divided into 10 wallets, each of which contained 500 BTC.
In response to the breach, DMM Bitcoin assured customers that it would fully cover the amount lost by raising an equivalent amount of BTC with the support of its group companies. Additionally, the exchange has implemented measures to prevent further unauthorized fund outflows.
To mitigate the impact of the hack, DMM Bitcoin has temporarily restricted all spot purchases on its platform. Additionally, customers withdrawing Japanese Yen may experience delays as specified by the exchange.
This incident is one of the largest cryptocurrency hacks in Japan since the infamous Coincheck hack in 2018, which resulted in a total loss of 58 billion yen. With more than $473 million lost to cryptocurrency hacks in 2024 prior to this incident, the security of digital assets remains a critical issue within the cryptocurrency ecosystem.
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