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The crypto exchange is taking action after one of the largest hacks in history.
Japanese cryptocurrency exchange DMM Bitcoin announced the theft of 4502.9 BTC worth about $304 million from its wallets.
On May 31, the exchange recorded an unauthorized withdrawal of bitcoins from its wallet. While the incident is being investigated, the company said it has already taken measures to prevent further leaks. In addition, restrictions were imposed on the use of certain services to provide additional security.
The exchange has temporarily restricted a number of services on its platform, including registering new accounts, withdrawing cryptocurrencies, buying in spot trades, and opening new positions for margin trading.
DMM Bitcoin has not yet provided information on how exactly the theft occurred. However, it is known that such thefts were previously carried out by accessing corporate systems or exploiting vulnerabilities in smart contracts and websites.
The exchange reported that bitcoin deposits will be fully compensated thanks to the support of DMM group companies, but the withdrawal of Japanese yen may take longer than usual.
StolenBTC is divided and sent to several new wallets
Meanwhile, Elliptic, which tracks stolen bitcoins, said that the attackers have already divided the stolen funds into several new wallets. This is probably done to hide traces and bypass blockages on other exchanges when trying to exchange stolen funds for other cryptocurrencies. The company also identified the wallets involved in the theft.
The theft from DMM Bitcoin was the eighth largest in history and the largest since the FTX hack worth more than $400 million in November 2022.
Japanese cryptocurrency exchange DMM Bitcoin announced the theft of 4502.9 BTC worth about $304 million from its wallets.
On May 31, the exchange recorded an unauthorized withdrawal of bitcoins from its wallet. While the incident is being investigated, the company said it has already taken measures to prevent further leaks. In addition, restrictions were imposed on the use of certain services to provide additional security.
The exchange has temporarily restricted a number of services on its platform, including registering new accounts, withdrawing cryptocurrencies, buying in spot trades, and opening new positions for margin trading.
DMM Bitcoin has not yet provided information on how exactly the theft occurred. However, it is known that such thefts were previously carried out by accessing corporate systems or exploiting vulnerabilities in smart contracts and websites.
The exchange reported that bitcoin deposits will be fully compensated thanks to the support of DMM group companies, but the withdrawal of Japanese yen may take longer than usual.
StolenBTC is divided and sent to several new wallets
Meanwhile, Elliptic, which tracks stolen bitcoins, said that the attackers have already divided the stolen funds into several new wallets. This is probably done to hide traces and bypass blockages on other exchanges when trying to exchange stolen funds for other cryptocurrencies. The company also identified the wallets involved in the theft.
The theft from DMM Bitcoin was the eighth largest in history and the largest since the FTX hack worth more than $400 million in November 2022.
