Bitcoin

Million

Coin

<ul class="news-points"> 
 <li>DMM Bitcoin plans to raise $321M from its parent company to reimburse customers after a hack.</li> 
 <li>Japanese regulators demanded a full report on the incident, vowing to improve security measures.</li> 
 <li>The hack is ranked as the seventh-largest in the history of crypto thefts.</li> 
</ul> 
Japanese crypto exchange DMM Bitcoin has announced plans to raise 50 billion yen, approximately $321 million, to reimburse customers affected by a recent security breach. According to the <a href="https://www.bloomberg.com/news/articles/2024-06-05/hacked-japan-exchange-to-raise-about-320-million-to-buy-bitcoin-btc" target="_blank" rel="nofollow">recent update</a>, the repayment funds will be sourced from group companies within the DMM.com conglomerate. 
Notably, the security breach resulted in the loss of 4,503 Bitcoin at the time of the incident. Chainalysis, a firm specializing in blockchain analytics, has <a href="https://x.com/chainalysis/status/1796571757341765916" target="_blank" rel="nofollow">ranked</a> this hack as the seventh-largest in the history of cryptocurrency thefts and the biggest since December 2022. 
The aftermath of the security breach has prompted Japan’s Financial Services Agency to demand a thorough report from DMM Bitcoin on the incident’s causes and the proposed compensation plan for customers. Finance Minister Shunichi Suzuki has also expressed the government’s determination to enhance security measures at crypto exchanges to p…
The post <a href="https://coinedition.com/japanese-crypto-exchange-dmm-bitcoin-vows-to-repay-321-million-lost-in-major-hack/">Japanese Crypto Exchange DMM Bitcoin Vows to Repay $321 Million Lost in Major Hack</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Japanese Crypto Exchange DMM Bitcoin Vows to Repay $321 Million Lost in Major Hack

Coin Edition

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