Japanese Exchange DMM Bitcoin Hit by $305M Breach
DMM Bitcoin faces a $305 million loss due to a breach, leading to 4,502.9 BTC outflow. Precautions taken, spot buying blocked.
The exchange stated that steps have been taken to stop additional unlawful outflows.
A breach caused Bitcoin, a cryptocurrency exchange based in Japan, to lose 48 billion yen ($305 million) worth of bitcoin (BTC).
DMM Bitcoin claimed that 4,502.9 BTC “leaked” out of the exchange in a blog post on its website. There are now precautions in place to stop any more illegal 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 stated.
All spot buying has been blocked on the exchange, and withdrawals of Japanese yen “may take more time than usual.”
This is the second-biggest loss in the area. In 2018, there was a 58 billion yen hack on Coincheck.
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