Japanese Crypto Exchange DMM Bitcoin Suffers $305M Hack
DMM Bitcoin, a Japanese cryptocurrency exchange, announced that it lost 48 billion yen ($305 million) worth of bitcoin (BTC) due to a hack. In a blog post on its website, DMM Bitcoin revealed that 4,502.9 BTC had “leaked” out of the exchange. The exchange has implemented measures to prevent further unauthorized outflows.
“Please be assured that we will procure the equivalent amount of BTC with the support of group companies and guarantee the full amount,” DMM Bitcoin stated.
The exchange has restricted all spot purchases on the platform and warned that Japanese yen withdrawals “may take more time than usual.”
This incident marks the second-largest cryptocurrency loss in the region, following the 2018 Coincheck hack, which resulted in a loss of 58 billion yen.