Japanese Crypto Exchange DMM Bitcoin Suffers $305M Hack

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Japanese Crypto Exchange DMM Bitcoin Suffers $305M Hack
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

All spot buys have been temporarily restricted and customers withdrawing yen may face delays.on its website, DMM Bitcoin said 4,502.9 BTC"leaked" out of the exchange. Measures have been taken to avoid further unauthorized outflows."Please be assured that we will procure the equivalent amount of BTC equivalent to the outflow with the support of the group companies and guarantee the full amount," DMM Bitcoin said.

The exchange has restricted all spot buys on the platform and added that Japanese yen withdrawals"may take more time than usual."in 2024 prior to this theft, which is the second largest in Japan as Coincheck was hacked for 58 billion yen in 2018.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

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