DMM Bitcoin to Raise Over 50 Billion Yen to Cover Hacking Losses
CryptoNewsTerminal Staff05 Jun, 2024
DMM Bitcoin to Raise Over 50 Billion Yen to Cover Hacking Losses
DMM Bitcoin Plans to Raise Funds to Compensate for Hacking Loss In response to a hacking incident that resulted in a loss of approximately 48 billion yen ($423 million), cryptocurrency exchange DMM Bitcoin is planning to raise over 50 billion yen ($442 million) to cover the financial damage. According to a report from Nikkei Asia, the exchange intends to acquire these funds through a combination of capital increases and loans within its group. The raised capital will be utilized to facilitate customer withdrawals and cover processing fees. This incident highlights the ongoing security concerns associated with cryptocurrency exchanges and the importance of robust security measures to protect user assets.
