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Home»ADOPTION NEWS»More than $300 million worth of Bitcoin was stolen from Japanese exchange DMM Bitcoin.
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More than $300 million worth of Bitcoin was stolen from Japanese exchange DMM Bitcoin.

By Crypto FlexsJune 1, 20242 Mins Read
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More than 0 million worth of Bitcoin was stolen from Japanese exchange DMM Bitcoin.
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Posted 1 minute ago In ~

Updated: May 31, 2024 11:42 AM EDT

Japanese cryptocurrency exchange DMM bitcoin BTC

-0.85%
It was announced on Friday that more than $300 million worth of Bitcoin had been traded. It was stolen by violation.

DMM Bitcoin, a subsidiary of DMM Group, posted a statement written in Japanese translated into English, saying, “On Friday, May 31, 2024, at approximately 1:26 p.m., we detected an unauthorized outflow of Bitcoin from our wallet.” To the company website.

The exchange announced that 4,502.9 bitcoins (about $306 million) were stolen. It seemed like they were promising their customers that they would reimburse them if necessary.

“With the support of our group companies, we will raise an equivalent amount of the BTC that has been leaked, so all your Bitcoin deposits are fully insured,” it said in a statement.

According to cryptocurrency forensics firm Elliptic, this exploit, if confirmed, would be “the eighth-largest cryptocurrency theft of all time and the largest since the $477 million hack suffered by FTX in November 2022.”

Updated with commentary from . Ellipse.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.

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