DMM Bitcoin, a Japanese cryptocurrency exchange, has announced a substantial loss of Bitcoin (BTC) from its wallet. A security breach was identified by the exchange on May 31, 2024, when it noticed an unauthorized withdrawal of 4,502.9 BTC, which at the time was equivalent to around 48.2 billion yen ($305 million).
This breach has prompted concerns in the cryptocurrency industry about the security of the funds.
DMMBitcoin Exchange $300M Bitcoin Hack
According to DMM Bitcoin’s official statement, the “leak” occurred around 1:26 p. m. local time, the company responded swiftly. Several of DMM Bitcoin’s services have currently been ceased for periods of time including new account screening, cryptocurrency withdrawal, and new position opening for leveraged trading.
To this end, the company vowed to fully cover all Bitcoin deposits to refund customers, and has said that it aims to purchase an equivalent amount of the leaked BTC with the support of the group companies.
According to Co
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