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Japanese crypto exchange says lost $300 million bitcoin in 'leak'

Economic Times · 5m

Japanese cryptocurrency exchange DMM Bitcoin reported a loss of approximately $300 million in a recent unauthorized leak from its digital wallet. The exchange is currently investigating the details of the incident, which Chainalysis, a global cryptocurrency analysis firm, labeled as one of the largest crypto hacks. DMM Bitcoin has implemented measures to prevent further leaks and has restricted some services for additional security. The amount of the leak is equivalent to 4,502.9 Bitcoins, and all customer deposits will be fully protected with support from the company's group entities. Japan's Financial Services Agency has ordered an investigation, and the police are also probing the case. Cryptocurrencies have a history of scandals and sudden price collapses, with notable incidents such as the 2014 Mt. Gox theft and the 2018 Coincheck hack.