News Japan's DMM Bitcoin losing 48.2 billion yen

Japan's cryptocurrency exchange, DMM Bitcoin, recently reported a significant loss of 4,502.9 bitcoins, equivalent to approximately 48.2 billion JPY or USD308 million. The company referred to this incident as an "unauthorized leak." However, specific details about how the leak occurred or whether external parties were involved have not been disclosed. DMM Bitcoin is investigating the matter and has implemented restrictions on some services. While cyberattacks often target cryptocurrency exchanges, losses of this magnitude are relatively uncommon. The company has committed to compensating customers for their lost Bitcoin deposits with assistance from other group companies.

It would be the largest since the $477 million hack suffered by FTX in November 2022, he added. Crypto news outlet CoinDesk said DMM's loss was the second largest the region had experienced, after $530 million worth of cryptocurrency was stolen from the Japanese crypto exchange Coincheck in 2018. Around $1.7 billion was stolen from various cryptocurrency platforms last year, crypto research firm Chainalysis said.

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Source: Japan's DMM Bitcoin says over $300 mln of cryptocurrency lost