DMM Bitcoin, a famous cryptocurrency exchange based in Japan, reported losing 48 billion yen (equivalent to $305 million) in Bitcoin (BTC) due to a recent attack.
The exchange announced in a blog post that a total of 4,502.9 BTC had “leaked” from the platform. In response to this security breach, DMM Bitcoin has implemented measures to prevent further unauthorized outflows of cryptocurrencies.
In order to reassure its users, DMM Bitcoin said, “You can be sure that with the support of the group companies, we will provide the amount of BTC equivalent to the exit and guarantee to cover the entire amount.” He made a statement.
Following the hacking incident, the exchange imposed restrictions on all spot purchases on the platform. It also warned its users that withdrawals in Japanese yen “may take more time than usual.”
This event marks the second largest cryptocurrency loss in the region. The biggest loss to date occurred in 2018, when Coincheck, another Japanese crypto exchange, was hacked for 58 billion yen.
In addition, previously Mt. Large amounts of Bitcoin were stolen from the Gox cryptocurrency exchange.
*This is not investment advice.