Massive cyber heist: $305m stolen from Japanese exchange DMM Bitcoin
1 June 2024 14:04
Cybercriminals are not idle. Recently, a massive attack was launched on the DMM Bitcoin exchange. Hackers stole the equivalent of $305 million, making it one of the largest attacks in the history of cryptocurrencies.
Vigilance and a healthy dose of skepticism are traits worth adhering to these days, especially when thieves lurk at every turn – including online. From impersonating popular banks to mass DDoS attacks, or organized actions targeting cryptocurrency exchanges, recent events show what determined cybercriminals are capable of.
Tech Crunch reported on Friday that the Japanese cryptocurrency exchange DMM Bitcoin reported an enormous hacking attack during which 4,503 bitcoins, equivalent to approximately $305 million, were stolen.
One of the largest attacks in the history of cryptocurrencies
Elliptic, a company specializing in cryptocurrency security, stated that this is the eighth-largest cryptocurrency theft in history. DMM Bitcoin noticed an "unauthorized Bitcoin (BTC) leak from our wallet" and is still investigating. According to a post on the company's blog, steps have been taken to prevent further thefts, including limiting the use of specific services to ensure additional security.
The company assured that all customer deposits would be fully secured, and the missing BTC would be replenished with the support of companies from the DMM group.
A growing number of cyberattacks
According to De.Fi, a company specializing in web3 security, hackers stole around £1.7 billion in cryptocurrencies last year through numerous attacks. Although it is substantial, it is the lowest value since 2020.
