Crypto Experience

The cryptocurrency crash caused the exchange to lose $305 million worth of Bitcoin

The exchange below reported that a large amount of their Bitcoin was stolen. The statement was made on the official blog.

DMM Bitcoin, a popular exchange based in Japan, reported losing 48 billion yen ($305 million) in Bitcoin (BTC) in a recent attack.

The exchange announced in a blog post that a total of 4,502.9 BTC was stolen from the platform.In response to this security breach, DMM Bitcoin has taken measures to prevent unauthorized outflows.

To reassure users, DMM Bitcoin said:

You can rest assured that with the support of the group’s companies, we will provide an amount of BTC equivalent to the stolen assets and guarantee a full refund of your money.

Following this incident, the exchange imposed restrictions on all spot purchases on the platform. Additionally, they also warn users that withdrawals in Japanese Yen may take longer than usual.

This is considered the second largest cryptocurrency incident in the region. When the biggest loss to date occurred in 2018, a popular Japanese exchange was hacked for 58 billion yen.

In addition, previously a large amount of Bitcoin was stolen from the Mt.Gox exchange.

 

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