Key Points

• DMM Bitcoin, a major Japanese cryptocurrency exchange, experiences a substantial theft of over $300 million in bitcoin.
• Customers are assured full reimbursement for any bitcoin deposits affected by the breach.

DMM Bitcoin, a prominent cryptocurrency exchange in Japan, recently disclosed a significant security breach resulting in the loss of more than $300 million worth of bitcoin.

The breach was first identified on May 31, 2024, at 1:26 p.m., when an unauthorized transfer of bitcoin from the exchange's wallet was detected. A total of 4,502.9 bitcoin, equivalent to approximately $306 million, was reported stolen. As a subsidiary of the DMM Group, DMM Bitcoin has committed to shouldering the financial responsibility of the theft.

The exchange has made a public declaration to fully safeguard all bitcoin deposits affected by the breach. This commitment ensures that customers will be compensated for their losses, as the company plans to recover the stolen bitcoin in collaboration with its affiliated companies.