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Japanese cryptocurrency exchange says it lost $300 million worth of Bitcoin in ‘leak’
(MENAFN– The Peninsula) AFP
Tokyo: Japanese cryptocurrency swap DMM bitcoin he said he lost Bitcoin worth around $300 million in what he described as “an unauthorized leak” from his digital wallet.
“We are still investigating the details of the damage,” it said in a statement after detecting the “unauthorized escape” at around 1.26pm (04.26 GMT) on Friday.
“We have already taken measures to prevent unauthorized leaks, but we have also implemented restrictions on the use of certain services to ensure additional security,” the exchange said.
DMM Bitcoin did not provide details about the “leak,” but global cryptocurrency analytics firm Chainalysis said it was one of the largest cryptocurrency hacks.
“Today’s hack of the Japanese DMM Bitcoin exchange worth $305 million in bitcoin is the largest hack since December 2022 and the seventh largest cryptocurrency hack ever,” Chainalysis said in a post on the platform of social media X, adding that he labeled the funds “stolen”.
DMM Bitcoin said the amount of the “leak” amounts to approximately 48.2 billion yen ($300 million), which is equivalent to 4,502.9 bitcoins.
All “Bitcoin (BTC) deposits of its customers will be fully guaranteed” with the support of group companies, the company said.
Japan’s Financial Services Agency ordered the company to investigate the causes of the crash and protect customers from harm, while police began investigating the case, business daily Nikkei reported.
Despite their growing popularity, cryptocurrencies have a history of scandals and sudden price crashes.
In 2014, thieves stole 850,000 bitcoins from the Japanese exchange Mt. Gox. They were worth about $470 million at the time.
Another Japanese exchange, Coincheck, was hacked to the tune of nearly $500 million in 2018.
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