DMM Bitcoin assured its clients that their Bitcoin deposits would be fully protected with the backing of the group of companies. Meanwhile, the price of BTC fell 2% to $67,500.
Earlier today, Japanese cryptocurrency exchange DMM Bitcoin reported that its digital wallets had lost more than $300 million worth of Bitcoin due to an “unauthorized breach,” while another defunct Japanese exchange, Mt. Gox, is working on a repayment plan.
DMM Bitcoin Exchange Lost 4502.9 BTC
DMM Bitcoin has not yet provided specific details about the “leak.” However, global cryptocurrency analysis company Chainalysis identified the incident as one of the most serious cryptocurrency leaks to date.
“Today, Japanese exchange DMM Bitcoin was hacked for $305 million worth of Bitcoin. This is the largest breach since December 2022 and the seventh-largest cryptocurrency hack in history,” Chainalysis announced in a social media post, marking the funds associated with the incident as “stolen.”
According to DMM Bitcoin, the value of the “leak” is approximately 48.2 billion yen, equivalent to 4,502.9 bitcoins. The Japanese cryptocurrency exchange said:
Customer deposits intact
DMM Bitcoin assures its clients that all its clients’ deposited Bitcoin (BTC) will be fully safeguarded with the backing of group entities.
After the incident, Japan's Financial Services Agency has instructed the company to investigate the root cause of the incident and take measures to protect customers from potential losses. According to Nikkei, law enforcement agencies have also launched an investigation into the matter.
Although Japan is one of the most supportive countries in the world for cryptocurrencies, it has also suffered from hacker attacks on several occasions. In 2014, the Mt. Gox exchange went bankrupt after a theft, losing more than $470 million. In the second half of 2018, another Japanese cryptocurrency exchange, Coincheck, also suffered a similar hacker attack, losing more than $500 million.
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