Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
$305 Million Hack Hits Japanese Crypto Exchange

$305 Million Hack Hits Japanese Crypto Exchange

BeInCryptoBeInCrypto2024/05/31 14:34
By:BeInCrypto

DMM Bitcoin, a Japanese crypto exchange, announced a devastating loss of $305 million due to a recent hack.

The breach resulted in 4,502.9 Bitcoin (BTC) being siphoned from the platform.

Japanese Crypto Exchange Suffers $305 Million Hack

In a blog post , DMM Bitcoin disclosed the security breach, stating that immediate measures were implemented to prevent further unauthorized transactions.

“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,” the crypto exchange assured its users.

Following the incident, DMM Bitcoin has temporarily restricted all spot purchases on its platform. Additionally, the company warned that withdrawals in Japanese yen might experience delays, urging users to remain patient as they navigate the aftermath of the hack.

This incident highlights the ongoing vulnerabilities within the crypto industry, even among prominent exchanges. DMM Bitcoin’s swift response and commitment to covering the losses reflect its dedication to maintaining customer trust and stability in the market.

1
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

What is the overseas crypto community talking about today?

What were foreigners most concerned about in the past 24 hours?

BlockBeats2025/12/12 21:23
What is the overseas crypto community talking about today?

The Dark Side of Altcoins

Why is it said that almost all altcoins will go to zero, with only a few exceptions?

ForesightNews 速递2025/12/12 21:03
The Dark Side of Altcoins

On the night of the Federal Reserve rate cut, the real game is Trump’s “monetary power grab”

The article discusses the upcoming Federal Reserve interest rate cut decision and its impact on the market, with a focus on the Fed’s potential relaunch of liquidity injection programs. It also analyzes the Trump administration’s restructuring of the Federal Reserve’s powers and how these changes affect the crypto market, ETF capital flows, and institutional investor behavior. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of the generated content are still being iteratively updated.

MarsBit2025/12/12 19:21
On the night of the Federal Reserve rate cut, the real game is Trump’s “monetary power grab”

When the Federal Reserve is politically hijacked, is the next bitcoin bull market coming?

The Federal Reserve announced a 25 basis point rate cut and the purchase of $40 billion in Treasury securities, resulting in an unusual market reaction as long-term Treasury yields rose. Investors are concerned about the loss of the Federal Reserve's independence, believing the rate cut is a result of political intervention. This situation has triggered doubts about the credit foundation of the US dollar, and crypto assets such as bitcoin and ethereum are being viewed as tools to hedge against sovereign credit risk. Summary generated by Mars AI. The accuracy and completeness of this summary are still in the process of iterative updates.

MarsBit2025/12/12 19:21
When the Federal Reserve is politically hijacked, is the next bitcoin bull market coming?
© 2025 Bitget