DMM Bitcoin: Japanese Crypto Exchange Faces $305 Million Security Breach
Crypto News– DMM Bitcoin, a Japanese cryptocurrency exchange, has announced a staggering loss of $305 million following a recent hacking incident.
As a result of the breach, a total of 4,502.9 Bitcoin (BTC) was siphoned from the platform.
Japanese Cryptocurrency Exchange Hit by $305 Million Cyberattack
In a blog post, DMM Bitcoin revealed the security breach, affirming that prompt actions were taken to halt any additional unauthorized transactions.
In response to the incident, DMM Bitcoin has temporarily halted all spot purchases on its platform. Furthermore, the company cautioned users about potential delays in Japanese yen withdrawals, advising them to remain patient while they address the aftermath of the breach.
This event underscores the persisting vulnerabilities in the cryptocurrency sector, including within well-established exchanges like DMM. However, DMM Bitcoin’s swift reaction and commitment to covering the losses demonstrate its dedication to upholding customer trust and market stability.
FAQs
How did the Japanese crypto exchange disclose the security breach?
The exchange disclosed the security breach through a blog post.
What immediate measures did the Japanese crypto exchange take after the security breach?
The exchange implemented immediate measures to prevent further unauthorized transactions.
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