Japanese cryptocurrency exchange DMM Bitcoin announced on Friday, May 31, 2024, that hackers stole over $300 million worth of Bitcoin (BTC).
DMM Bitcoin, a subsidiary of DMM Group, issued a statement on their website [Japanese, English translation available] acknowledging the unauthorized transfer of Bitcoin from their wallets at approximately 1:26 PM JST. The exchange confirmed the theft of 4,502.9 Bitcoin, amounting to roughly $306 million at the time of writing.
While the specifics of the hack remain undisclosed, DMM Bitcoin appears to be reassuring its customers, stating, “Please rest assured that all of your bitcoin deposits will be fully guaranteed, as we will procure the equivalent amount of BTC that was leaked with support from our group companies.”
Potential Ranking Among Biggest Crypto Heists
According to crypto forensics firm Elliptic, if confirmed as a genuine hack, this incident would be the eighth-largest cryptocurrency heist on record. Furthermore, it would surpass the previous record of $477 million stolen from FTX in November 2022, making it the most significant crypto theft since then.
Also Read: Based Doge Hacked, 91.4 Million Tokens Vanish in $2.8 Million Price Crash
Impact and Ongoing Investigation
The DMM Bitcoin hack serves as a stark reminder of the vulnerabilities within the cryptocurrency ecosystem. Regaining trust from customers and bolstering cybersecurity measures will be crucial for DMM Bitcoin moving forward. Authorities are likely investigating the incident, and further details regarding the nature of the hack and the stolen funds’ whereabouts may be revealed in the coming days.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. chainaffairs.com is not responsible for any financial losses.
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