News
Japanese cryptocurrency exchange DMM Bitcoin suffers $305 million hack
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4,502.9 BTC ($305 million) was stolen from the exchange.
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DMM Bitcoin said it will guarantee the entire stolen amount.
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All spot purchases have been temporarily restricted and customers withdrawing yen may experience delays.
DMM Bitcoin, a Japanese cryptocurrency exchange, said it lost 48 billion yen ($305 million) worth of bitcoin {{BTC}} following a hack.
In a blog post on its website, DMM Bitcoin said 4,502.9 BTC had “leaked” from the exchange. Measures have been taken to avoid further unauthorized outflows.
Data provided by security firm Blocksec shows that the hacker divided the stolen bitcoin on 10 wallets in lots of 500 BTC.
“We assure you that, with the support of group companies, we will provide the equivalent amount of BTC equivalent to the outflow and guarantee the full amount,” DMM Bitcoin said.
The exchange has restricted all spot purchases on the platform and added that Japanese yen withdrawals “may take longer than usual.”
More than $473 million was lost due to cryptocurrency cyberattacks in 2024 before this theft, which is the second largest in Japan since Coincheck was hacked for 58 billion yen in 2018.
UPDATE (May 31, 16:25 UTC): Adds Blocksec data on flow of stolen funds, paragraph on cryptocurrency attacks in 2024.