Japanese Exchange DMM Bitcoin Suffers Massive $310 Million Hack
CryptoNewsTerminal Staff31 May, 2024
Japanese Exchange DMM Bitcoin Suffers Massive $310 Million Hack
DMM Bitcoin, a Japanese cryptocurrency exchange, fell victim to a cyberattack that resulted in the theft of approximately 48 billion yen, equivalent to roughly $310 million. This incident has been identified as the most significant crypto hack since December 2022, ranking among the seven largest cryptocurrency breaches in history, according to blockchain data analytics firm Chainalysis. DMM Bitcoin detected unauthorized access to its systems on July 19, 2023, and promptly suspended its services. The exchange is collaborating with relevant authorities and external experts to investigate the matter thoroughly and restore normal operations as soon as possible. DMM Bitcoin is reassuring its customers that the exchange has taken proactive measures to safeguard their assets and is committed to enhancing its security protocols to prevent future incidents. Customers are advised to remain vigilant and report any suspicious activities to the exchange promptly. ```
