Bitcoin deposits made by customers “shall be completely insured” by DMM Bitcoin after the attack.
On Friday, a Japanese cryptocurrency exchange operator said that over $300 million worth of bitcoin had been “unauthorizedly leaked” from their system.
In a blog post, DMM Bitcoin revealed all the information. The alleged stolen sum was 4,502.9 BTC, which is equivalent to $305.1 million in today’s market value.
Bitcoin deposits “will be totally insured as we will acquire the identical quantity of BTC that was leaked with cooperation from our group firms,” the exchange promised customers. When asked when these purchases would occur, DMM Bitcoin gave no specific date.
According to DMM Bitcoin, the theft happened at 1:26 p.m. Tokyo time. At around the same moment, the Whale Alert account on X (previously Twitter) detected a transaction worth 4,502 BTC.
According to DMM Bitcoin, the company has halted all cryptocurrency withdrawals, spot market buy orders, and new leveraged trading positions. Additionally, new account openings are being “screened” by the exchange.
The exchange informed customers that yen withdrawals “may take longer than normal,” as stated in the blog post.
A subsequent notification will be released with additional details, but the exchange did not specify when services will restart.
Japanese news outlet Nikkei cites a yearly business report to state that as of the end of 2023, DMM Bitcoin has over 370,000 client accounts.
In the event that the sum is verified, it would rank among the most significant cryptocurrency exchange assaults in history.
A hack in 2018 cost Coincheck 58 billion yen, or about $533 million, in cryptocurrency. Online trading business Monax purchased the exchange later that year.
Mt. Gox, the collapse of the Japanese bitcoin exchange, was responsible for losses exceeding $400 million in 2014 pricing. The ten-year process that began with Mt. Gox’s collapse is now coming to a close, with plans afoot to pay its creditors.
Also Read: The CertiK Report Shows That Crypto Losses Totaled $42.6 Million in May
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