From Investing.com: 2024-05-31 14:23:51

Japanese Internet giant DMM.com’s cryptocurrency arm, DMM, disclosed a major security breach resulting in over $300 million worth of bitcoin stolen. The exchange froze most services after 4,502.9 bitcoin was unauthorizedly taken. DMM Bitcoin assured clients their deposits would be fully reimbursed, implementing measures to prevent further outflows.

In 2018, rival exchange Coincheck faced a $534 million hack, one of the industry’s largest. Its parent company, Monex Group, spent weeks investigating the attackers and security breach. The hack damaged Coincheck’s reputation and the Japanese cryptocurrency industry, highlighting the importance of robust security measures and fund protection.

Read more at Investing.com: Japanese exchange DMM Bitcoin loses $305 million to hackers By Investing.com