On Friday, DMM Bitcoin, a Japanese cryptocurrency exchange, announced that it had been the victim of a breach resulting in the theft of over $300 million worth of Bitcoin.
The exchange, a subsidiary of DMM Group, detected the unauthorized leak at 1:26 p.m. on May 31, 2024. The statement, originally posted on the company’s website in Japanese, was translated to English and confirmed the amount stolen was 4,502.9 Bitcoin.
Despite the significant loss, DMM Bitcoin assured its customers that they would be fully reimbursed as they work to procure the equivalent amount of BTC with support from their group companies.
According to crypto forensics firm Elliptic, if confirmed, this would be the eighth largest crypto theft of all time and the largest since a $477 million hack at FTX in November 2022.
