Japan’s DMMBitcoin to Reimburse Users After $308M HackOn
May 31, 2024, DMMBitcoin, a Japanese #cryptocurrency #exchange, was hacked, losing 4,502.9 #Bitcoin (worth $308 million).
The breach, among the largest in crypto history, forced the platform to halt withdrawals, #trading, and new user registrations.
DMMBitcoin has committed to fully reimbursing affected users, thanks to Japanese regulations that ensure the separation of corporate and customer funds.
While the exact vulnerability exploited remains undisclosed, the incident reignites concerns about storing digital assets on centralized exchanges.