Bitcoin
Japanese Crypto Exchange Suffers Bitcoin Theft Worth $305 Million
Next article
Theft led to the loss of 4,502.9 Bitcoins
What’s the story
Japanese cryptocurrency exchange platform, DMM Bitcoin, has confirmed a significant cyber theft. In its blog post on Friday, the company said it detected “an unauthorized leak of Bitcoin (BTC) from our wallet,” which resulted in the loss of 4,502.9 Bitcoin, worth approximately $305 million. According to crypto security firm Elliptic, this incident is the eighth largest cryptocurrency robbery in history.
Action after cyber theft
In response to the breach, DMM Bitcoin initiated an investigation and implemented measures to prevent further theft. The company has also “implemented restrictions on the use of some services to ensure additional security,” according to a machine translation of its official Japanese blog post. Despite the significant loss, DMM Bitcoin assures its clients that all Bitcoin deposits will be fully guaranteed.
Promise to repay stolen funds
DMM Bitcoin promised its customers that it “will acquire the equivalent amount of leaked BTC with the support of our group companies”. The measure aims to reassure its users and maintain trust in the platform. However, DMM Bitcoin did not immediately respond to requests for additional comment on the matter, according to TechCrunch.