Breaking: DMM Bitcoin Loses 4,502.9 BTC in $305 Million Crypto Hack

TOKYO — Japanese Bitcoin exchange DMM has reported a massive security breach, losing 4,502.9 Bitcoin valued at approximately $305 million USD (48.2 billion yen). The exchange disclosed the hack in a public statement, describing it as an “unauthorized leak of Bitcoin (BTC) from our wallet.”

Security Measures and Service Restrictions

Following the hack, DMM Bitcoin has implemented several precautionary measures to safeguard user funds and prevent further unauthorized access. These measures include:

• Halting new account screenings
• Freezing all crypto withdrawals
• Restricting spot traders to selling only (no buying)
• Prohibiting leverage traders from opening new positions

“We are still investigating the details of the damage,” DMM stated. “We have already taken measures to prevent the unauthorized leak, but we have also implemented restrictions on the use of some services to ensure additional safety.”

Customer Assurance

Despite the severity of the breach, DMM Bitcoin has assured its customers that their Bitcoin deposits will be fully guaranteed. “We will procure the equivalent amount of BTC that was leaked with support from our companies,” the exchange promised.

Historical Context

This incident ranks among the largest exchange hacks globally in terms of fiat value. For comparison:

• The infamous Mt. Gox hack in 2014 resulted in a loss of $450 million.
• CoinCheck, another Japan-based exchange, suffered a $532 million hack in 2018, making it the largest hack in Japan’s history.

Customer Reassurance

Historically, exchange hacks leading to withdrawal freezes have often resulted in customers receiving only a fraction of their lost funds, if any. However, there have been positive precedents recently, such as Gemini Earn, which successfully reimbursed customers in full 18 months after freezing withdrawals.