Japanese Crypto Exchange DMM Suffers $305 Million Bitcoin Heist

In a major security breach, DMM Bitcoin, a cryptocurrency exchange in Japan, lost $305 million worth of Bitcoin (4,502.9 BTC). The exchange has guaranteed to reimburse the stolen funds and has implemented measures to prevent further unauthorized withdrawals. As a result of the hack, spot buys are temporarily suspended, and yen withdrawals may be delayed. This incident marks the second-largest crypto hack in Japan, following the 2018 Coincheck hack.