On Friday, DMM Bitcoin, a cryptocurrency exchange based in Japan, disclosed it had fallen victim to a cyberattack, leading to the loss of approximately 4,502.9 bitcoins, valued around $305 million.
Elliptic, a firm specializing in crypto security, has identified this theft as the eighth biggest in the realm of cryptocurrency thefts to date.
The exchange discovered “an illegal siphoning off of Bitcoin (BTC) from our wallet” on the same day and noted that steps had been immediately taken to halt further unauthorized transactions. Measures to enhance security included “limitations on certain services,” as interpreted from a statement on their official Japanese blog.
In efforts to reassure their clientele, DMM Bitcoin has committed to replacing the missing Bitcoin by procuring the equivalent amount with help from its sister companies, ensuring no losses for its users.
As of now, DMM Bitcoin has yet to officially comment on this incident.
De.Fi, a security entity in the web3 space that monitors activities such as crypto thefts and fraud, reported that last year saw about $2 billion worth of cryptocurrency pilfered across various incidents. Although a significant sum, it was the lowest annual total noted since 2020.
Compiled by Techarena.au.
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