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DMM Bitcoin, a prominent Japanese cryptocurrency exchange, has announced a significant security breach resulting in the loss of 48 billion yen ($305 million) worth of bitcoin (BTC).
In a blog post on its website, DMM Bitcoin reported that 4,502.9 BTC had “leaked” out of the exchange due to the hack. The exchange has since implemented measures to prevent further unauthorized withdrawals.
Security firm Blocksec provided data indicating that the hacker distributed the stolen bitcoin across 10 different wallets, each holding batches of 500 BTC.
“Please be assured that we will procure the equivalent amount of BTC to cover the outflow with the support of our group companies and guarantee the full amount,” DMM Bitcoin stated in their blog post.
Following the incident, DMM Bitcoin has suspended all spot purchases on the platform and warned that Japanese yen withdrawals might experience delays.
Prior to this theft, over $473 million had already been lost to cryptocurrency hacks in 2024. This incident is now the second largest crypto heist in Japan’s history, following the 58 billion yen theft from Coincheck in 2018.
