DMM Cryptocurrency Hack, About 4502 Bitcoin Loss Approximately $305 Million
DMM, a Bitcoin Exchange that is Japanese based, was hacked about 4,502 Bitcoin on the 31st of May 2024; which was 48.2 billion yen, approximately $305 million of users assets. DMM has announced that they were hacked, and the loss was verified.
DMM said that details into the hack are inspected presently. DMM gave assurance to its customers that they've ensured that such exploitation doesn't recur. However, DMM have put in place some restrictions in their services currently, for safety reasons.
The Japanese Bitcoin Exchange emphasized that customers should know that their deposits in Bitcoin are safe and completely protected. DMM further stated that they will acquire the exact value of Bitcoin that was hacked, from firms that assist them.
DMM's hack stands as one of the biggest losses in Exchanges worldwide. Other large hacks include CoinCheck's loss of about 58 billion yen, approximately $532 million in 2018, and Mt. Gox exploitation, with loss of approximately $450 million in value in 2014.