According to DMM Bitcoin, a Japanese cryptocurrency exchange, there was “an unauthorised leak” of bitcoin worth around $300 million from their digital wallet.
“We are still investigating details of the damages,” it said in a statement after detecting the “unauthorised leak” at around 13:26 (0426 GMT) Friday.
“We have already taken measures to prevent the unauthorised leak, but we have also implemented restrictions on the use of some services to ensure additional safety,” the exchange said.
DMM Bitcoin did not give details on the “leak” but global cryptocurrency analysis firm Chainalysis said it was one of the biggest crypto hacks.
“Today’s hack of Japanese exchange DMM Bitcoin for $305M worth of bitcoin is the biggest hack since Dec 2022 and the 7th largest crypto hack ever,” Chainalysis said in post on social media platform X, adding it had labelled the funds as “stolen”.
According to DMM Bitcoin, the “leak” contained 4,502.9 bitcoins, or approximately 48.2 billion yen ($300 million).
The company stated that all of its customers’ “Bitcoin (BTC) deposits will be fully guaranteed” with assistance from its affiliated businesses.
According to the business daily Nikkei, authorities have begun questioning the company while the Financial Services Agency of Japan has ordered the company to look into what caused the situation and shield customers from losses.
Cryptocurrencies have a history of scandal and abrupt price drops, despite their increasing popularity.
In 2014, 850,000 bitcoins were taken by thieves from the Japanese exchange Mt. Gox. It had a $470 million market value at the moment.
In 2018, Coincheck, another Japanese exchange, suffered a near $500 million hack.
