DMM Bitcoin to Compensate Customers Impacted by $350 Million Hack
CryptoNewsTerminal Staff31 May, 2024
DMM Bitcoin to Compensate Customers Impacted by $350 Million Hack
Following a hack that resulted in losses of approximately $350 million, Japanese cryptocurrency exchange DMM Bitcoin has announced that it will utilize support from its group companies to ensure complete compensation for affected customers. The irregular outflow of 4,502.9 BTC, valued at around 48.2 billion yen, was detected from the exchange's wallet on the day of the incident. In response, DMM Bitcoin swiftly suspended new account registrations, cryptocurrency withdrawals, spot trading buy orders, and the opening of new leveraged trading positions. DMM Bitcoin's swift and decisive actions, coupled with the financial backing of its group companies, demonstrate its commitment to safeguarding customer interests. This move reinforces the importance of robust security measures and proactive response planning in the cryptocurrency industry.
