Tuesday, June 11, 2024 – DMM Bitcoin, one of the leading crypto exchanges in Japan, reported the theft of $305 million (48 billion yen of BTC) and 4502.9 BTC from its wallet. 1
The following services—new account openings, new buying orders for spot trading, and crypto asset withdrawals—have been temporarily suspended to secure the infrastructure of DMM and avoid further vulnerabilities.
The attack targeted DMM Bitcoin alarms the urgency of fortifying its security measures to retain its legacy as a leading crypto exchange.
Nevertheless, DMM Bitcoin has ensured the bitcoin deposits of its client base are fully secured.
“Please be assured that all your Bitcoin (BTC) deposits will be completely covered. We will procure the equivalent amount of BTC that was compromised with the support of our group companies,” mentioned in the company announcement. 1
The Financial Services Agency in Japan has implemented the need for an investigation to be conducted via the company regarding the breach, securing the clients’ assets, while the police conduct another investigation separately.
The breach reported by DMM Bitcoin this year recalls the earlier attacks directed at Japanese companies and the need to advance security in the crypto industry.
- DMM Bitcoin: https://www.forbesindia.com/article/cryptocurrency/japanese-crypto-exchange-dmm-bitcoin-suffers-305-million-loss-in-hack/93284/1[↩][↩]
