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DMM Bitcoin Exchange Suffers $305 Million Hack, 4,502.9 BTC Stolen in Biggest Crypto Heist Since Dec 2022

May 31, 2024, 01:49 PM

Japan-based cryptocurrency exchange DMM Bitcoin has experienced a significant security breach, resulting in the loss of 48 billion yen ($305 million) worth of Bitcoin. The hack, which led to the unauthorized transfer of 4,502.9 BTC, marks one of the largest crypto heists in recent history and is the biggest hack since December 2022, as well as the seventh largest crypto hack ever. DMM Bitcoin, a subsidiary of Japanese securities company DMM, has announced that it will purchase Bitcoin equivalent to the amount stolen and guarantee the full amount to affected customers. As a precaution, the exchange has temporarily restricted all spot buys and warned customers of potential delays in yen withdrawals. The incident has been reported by various sources, including Nikkei and CoinDesk.