{"id":314714,"date":"2024-06-01T12:15:19","date_gmt":"2024-06-01T06:45:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/japanese-crypto-exchange-dmm-bitcoin-loses-300-million-worth-of-btc-in-latest-leak-crypto-news\/"},"modified":"2024-06-01T12:18:40","modified_gmt":"2024-06-01T06:48:40","slug":"japanese-crypto-exchange-dmm-bitcoin-loses-300-million-worth-of-btc-in-latest-leak-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/japanese-crypto-exchange-dmm-bitcoin-loses-300-million-worth-of-btc-in-latest-leak-crypto-news\/","title":{"rendered":"Japanese Crypto Exchange DMM Bitcoin Loses $300 Million Worth of BTC In Latest Leak – Crypto News"},"content":{"rendered":"

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Earlier today, the Japanese crypto exchange DMM Bitcoin reported losing over $300 million worth of Bitcoin in \u201can unauthorised leak\u201d from its digital wallet. This comes at a time when another defunct Japanese exchange Mt. Gox<\/a> has been working on its repayment plans.<\/p>\n

DMM Bitcoin Exchanges Loses 4,502.9 BTCs<\/h3>\n

DMM Bitcoin has refrained from providing specific details regarding the \u201cleak.\u201d However, Chainalysis, a global cryptocurrency analysis firm, identified it as one of the most significant crypto breaches to date.<\/p>\n

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In a social media post, Chainalysis announced, \u201cToday\u2019s hack of Japanese exchange DMM Bitcoin, involving $305 million worth of bitcoin, stands as the largest breach since December 2022 and ranks as the 7th largest crypto hack in history.\u201d The firm marked the funds associated with the incident as \u201cstolen.\u201d<\/p>\n

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According to DMM Bitcoin, the value of the \u201cleak\u201d amounted to approximately \u00a548.2 billion, equivalent to 4,502.9 Bitcoins. The Japanese crypto exchange wrote:<\/p>\n

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\u201cWe are still investigating details of the damages. We have already taken measures to prevent the unauthorised leak, but we have also implemented restrictions on the use of some services to ensure additional safety\u201d.<\/p>\n

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Customer Deposits Are In Tact<\/h3>\n

The company assured that all Bitcoin (BTC) deposits made by its customers would be fully safeguarded, with backing from its group entities.<\/p>\n

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Following the incident, Japan\u2019s Financial Services Agency has instructed the company to conduct an inquiry into the root cause of the event and take measures to shield customers from potential losses. Concurrently, law enforcement authorities have initiated an investigation into the matter, as reported by the business daily Nikkei.<\/p>\n

Despite being one of the most crypto-friendly countries, Japan has had a history of hacks, the biggest one being the Mt. Gox exchange going bankrupt after the theft back in 2014, losing more than $470 million. Later in 2018, another Japanese crypto exchange Coincheck faced a similar hack losing over $500 million.<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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