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Japanese Crypto Exchange DMM Bitcoin Suffers $305M Hack

DMM Bitcoin, a Japanese cryptocurrency exchange, said it lost 48 billion yen ($305 million) of bitcoin (BTC) following a hack. In a blog post on its website, DMM Bitcoin said 4,502.9 BTC "leaked" out of the exchange. Measures have been taken to avoid further unauthorized 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 said. The exchange has restricted all spot buys on the platform and added that Japanese yen withdrawals "may take more time than usual." More than $473 million had been lost to cryptocurrency hacks in 2024.

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