Tuesday, June 4, 2024

A huge $300 million Bitcoin theft has affected Japanese Exchange DMM

DMM Bitcoin, a big cryptocurrency company in Japan, said that their protection was broken and more than $300 million worth of Bitcoin was stolen. This hack cost about 4,503 Bitcoin. It's now thought to be Japan's second-biggest crypto breach, after the well-known Mt. Gox episode. The attack was discovered on May 31, 2024. Two of the three required signatures may have been obtained through software or social engineering. The exchange said that all Bitcoin accounts are safe, even though the breach happened, but it has stopped some trade and transaction processes. Both the police and the Japan Financial Services Agency are looking into what took place. These facts show that the business still has safety problems. This shows how important it is for crypto markets to have better security so incidents like this don't happen again.


Summary News: $300 million Bitcoin theft

A big cryptocurrency company in Japan called DMM Bitcoin said that it was hacked and lost about 4,503 Bitcoin worth $300 million. This breach, which was found on May 31, 2024, is bigger than the Mt. Gox event and the second biggest crypto attack in Japan. Someone broke into the system, but no one's Bitcoin account is in danger. But some deals and moves have been put on hold. Another event that shows how important it is for crypto sites to improve their safety.


Source: Japanese Exchange DMM Bitcoin Suffers Significant Hack, Over $300M Stolen From Wallet
Sources: CoinMarketCap

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