2024

Bitcoin

Arkham

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Japanese cryptocurrency exchange DMM Bitcoin has&nbsp;<a href="https://bitcoin.dmm.com/" rel="noopener noreferrer nofollow">reported</a> a significant hack, resulting in the loss of 4,502.9 Bitcoins, valued at approximately $300 million.
The exchange detected the unauthorized leak at around 1:26 p.m. (4:26 a.m. GMT) and immediately implemented measures to prevent further unauthorized outflows.
In response to the hack, DMM Bitcoin assured users that they would procure the equivalent amount of the stolen Bitcoin with the help of group companies, guaranteeing the full amount. The exchange has also restricted all spot buys and warned that Japanese yen withdrawals might experience delays.
Chainalysis&nbsp;<a href="https://x.com/chainalysis/status/1796571757341765916" rel="noopener noreferrer nofollow">confirmed</a> that this is the largest hack since December 2022 and the seventh-largest crypto hack in history.
<blockquote>
 🚨 Today's hack of Japanese exchange DMM Bitcoin for $305M worth of bitcoin is the biggest hack since Dec 2022 and the 7th largest crypto hack ever. Chainalysis has labelled the stolen funds in our products. <a href="https://t.co/AkvIK5VIcD" rel="noopener noreferrer nofollow">https://t.co/AkvIK5VIcD</a>— Chainalysis (@chainalysis) <a href="https://twitter.com/chainalysis/status/1796571757341765916?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 31, 2024</a>
</blockquote>
The exchange has taken additional safety measures and implemented service restrictions to ensure further security. Despite the breach, DMM Bitcoin has committed to fully guaranteeing all customer Bitcoin deposits.
Meanwhile, Arkham Intel&nbsp;<a href="https://x.com/ArkhamIntel/status/1796563505782337949/photo/1" rel="noopener noreferrer nofollow">created</a> a bounty to identify the hacker.

$300 Million in Bitcoin Lost After Major Japanese Crypto Exchange Hack

U_Today

Other articles published on Jun 1, 2024

Bitcoin Mining Gains Key Political Support From Oklahoma and Senator Ted Cruz

Top 3 Meme Coins to Invest In Now

BlockDAG’s Tokyo Showcase Skyrockets $38.3M Presale, Surpassing BNB And ONDO Price Predictions

Qubetics Whitelist Picks Up Pace with Early Gains Promise as Tron and Solana Lose Steam

Robinhood Approaches Settlement with Investors Over 2021 Meme Stock Trading Halt

Bearish Bitcoin, Bullish Ethereum: Crypto Market Stands Split

Join our free newsletter for daily crypto updates!