Unauthorized Leak Detected
At approximately 13:26 (0426 GMT) on Friday, an unauthorized leak was detected, prompting a thorough investigation into the damages.
Immediate Preventative Measures Taken
Measures to prevent further unauthorized leaks have been implemented, and additional restrictions on some services have been introduced to ensure safety.
Scale of the Hack
While DMM Bitcoin did not provide specifics about the leak, global cryptocurrency analysis firm Chainalysis reported that it was one of the largest crypto hacks ever recorded.
Significant Financial Losses
According to Chainalysis, the hack involved $305 million worth of bitcoin, making it the biggest hack since December 2022 and the seventh-largest crypto hack to date. The stolen funds were labeled as such by Chainalysis on the social media platform X.
Customer Deposits Guaranteed
DMM Bitcoin confirmed that the leaked amount was approximately 48.2 billion yen ($300 million), equating to 4,502.9 bitcoins. Despite the hack, the company assured that all customer Bitcoin (BTC) deposits would be fully guaranteed with support from its group companies.
Regulatory and Law Enforcement Actions
Japan’s Financial Services Agency has mandated an investigation into the incident to prevent future occurrences and protect customers. Meanwhile, the police have commenced their probe into the matter.
Historical Context of Cryptocurrency Thefts
Despite their rising popularity, Cryptocurrencies have faced numerous scandals and price collapses. In 2014, 850,000 bitcoins worth around $470 million were stolen from Japanese exchange Mt. Gox. Similarly, in 2018, another Japanese exchange, Coincheck, was hacked for nearly $500 million.
News Reference
