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Japanese exchange DMM Bitcoin suffers significant cyber attack, over $300 million stolen from wallet
Japanese exchange DMM Bitcoin suffers significant cyber attack, over $300 million stolen from wallet
Japanese cryptocurrency exchange DMM Bitcoin announced a value of more than $300 million on Friday Bitcoin (BTC) it was stolen from his main wallet. The breach occurred around 1.30pm local time, with DMM Bitcoin reporting that around 4,503 BTC, worth around $308 million at the time, had been “illegally leaked” from its wallet. The company has not yet provided details on how the hack was carried out, but confirmed that an investigation is underway and that measures are being taken to prevent future attacks.
This incident marks one of the largest hacker attacks to occur in the digital assets industry in recent years. DMM Bitcoin assured customers that all BTC deposits would be guaranteed. However, the exchange has temporarily suspended purchasing orders for spot trading, opening leveraged trading positions, and screening new account openings. Additionally, processing of cryptocurrency withdrawals has been suspended for the time being, although Japanese Yen withdrawals are still being processed, albeit slower than usual.
This hack is the most substantial cryptocurrency-related exploit the industry has faced in recent times. It surpasses any hack seen so far this year or in 2023. The incident is overshadowed only by 2018’s Coincheck hack, where more than $550 million worth of XEM was stolen, marking the largest cryptocurrency heist in the history of Japan.
The cryptocurrency industry has been plagued by numerous hacks and exploits, with billions of dollars lost due to security vulnerabilities. While 2023 saw significant losses, it did not match the record-breaking hacks of 2022, when over $4 billion was stolen across various platforms.