DMM Bitcoin, a Japanese cryptocurrency exchange, has reported a substantial theft of 4,502.9 BTC, valued at approximately $308 million. Detected on May 31, 2024, the unauthorized access to the exchange’s wallet marks one of the largest cryptocurrency heists of the year. In response to the breach, DMM Bitcoin has initiated investigations and implemented security measures, including service restrictions to safeguard user assets and prevent further unauthorized activity.
While specific details regarding the theft remain under investigation, DMM Bitcoin has taken proactive steps to mitigate potential risks, such as restricting services like account registration, cryptocurrency withdrawals, and trading activities. The exchange has issued apologies to its customers and assured them that all Bitcoin deposits will be fully guaranteed, with plans to replenish the equivalent amount through the assistance of affiliated companies within the group.
Cryptocurrency intelligence firm Elliptic is actively monitoring the stolen Bitcoin, noting that the threat actors have already fragmented the stolen funds into multiple new wallets. This fragmentation strategy is commonly employed to obscure the trail of illicit transactions and evade detection by other cryptocurrency exchanges. If confirmed, this theft would rank as one of the largest crypto heists in history and the most significant one recorded in 2024.
