DMM Bitcoin, a Japanese crypto exchange, has suffered a massive bitcoin hack, with a reported loss of 48 billion yen ($305 million).
This hack marks one of the largest cryptocurrency thefts in Japan since the Coincheck incident in 2018 where 58 billion yen was stolen.
Security Details and Measures Taken
The platform disclosed that 4,502.9 BTC had been illicitly transferred out of the exchange.
To prevent further leaks, strict security measures have been implemented. According to security firm Blocksec, the hacker split the stolen bitcoins among 10 wallets, each receiving 500 BTC batches.
DMM Bitcoin’s Response and Impact on Users
In response to this incident, DMM Bitcoin stated it would guarantee the total stolen amount, pledging to acquire an equivalent amount of BTC with support from affiliated companies.
Currently, all spot purchases on the platform are suspended, and Japanese yen withdrawals may experience delays. The company aims to reassure its users by promising full compensation, seeking to maintain customer trust despite the circumstances.
