DMM Bitcoin Pauses Crypto Withdrawals After $300M Exploit

• DMM Bitcoin has fallen victim to a hack.
• BTC worth hundreds of millions have been “leaked.”
• The crypto exchange paused some services following the incident.

Japanese cryptocurrency exchange DMM Bitcoin has reported a security incident that led to an “unauthorized leak of Bitcoin ( BTC )” worth hundreds of millions of dollars from its wallet.

Acknowledging that it was still investigating the details of the “damage” in a May 31 report, the exchange said it had taken measures to prevent further unauthorized leaks and implemented restrictions on certain services to ensure additional safety.

Massive Bitcoin Outflows

Per the report , the maliciously leaked Bitcoin is worth over $300 million.  

“It has been determined that the amount of Bitcoin (BTC) illegally leaked from our wallet is 4,502.9 BTC (about 48.2 billion yen),” the report read. “Please rest assured that all of your Bitcoin (BTC) deposits will be fully guaranteed, as we will procure the equivalent amount of BTC that was leaked with support from our group companies.”

Following the security incident, the exchange has restricted services such as screening new account openings and crypto withdrawals, as well as suspending buying orders for spot trading and new open positions for leveraged trading.

While active limit orders for spot trading and leveraged trading will not be canceled, the exchange cautioned that Japanese Yen withdrawals could take longer than usual.

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The exchange promised to issue a separate notice regarding the resumption of services.

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