Hackers Steal $305 Million from DMM Bitcoin Crypto Exchange

Japanese crypto exchange DMM Bitcoin confirmed on Friday that it had fallen victim to a major hack, resulting in the theft of 4,502.9 bitcoin, valued at approximately $305 million.

According to crypto security firm Elliptic, this incident ranks as the eighth largest crypto theft in history.

DMM Bitcoin reported detecting an “unauthorized leak of Bitcoin (BTC) from our wallet” on Friday. The exchange is currently investigating the breach and has implemented measures to prevent further thefts. Additionally, DMM Bitcoin has restricted the use of certain services to enhance security, as detailed in a blog post translated from Japanese.

The company assured customers that their Bitcoin deposits are secure and will be fully guaranteed. DMM Bitcoin plans to replace the stolen BTC with equivalent amounts sourced from its group companies.

DMM Bitcoin has not yet responded to requests for further comments.

In the broader context of crypto security, web3 security firm De.Fi reported that hackers stole about $2 billion in crypto through numerous cyberattacks and thefts last year. While significant, this total marks the lowest amount of crypto stolen since 2020.