Where Did the 420 Billion Won in Bitcoin Flow... Unauthorized Outflow Occurs in Japan

It has been revealed that an unauthorized outflow worth approximately 420 billion KRW occurred at a Japanese virtual asset exchange.

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According to the Nihon Keizai Shimbun (Nikkei) on the 1st, the Japanese virtual asset exchange "DMM Bitcoin" announced that 48.2 billion yen (about 420 billion KRW) worth of Bitcoin was illicitly leaked the previous day. DMM Bitcoin confirmed the unauthorized outflow in the afternoon of the previous day.

DMM Bitcoin stated, "We are continuing to investigate the details of the damage situation," but did not explain the specific circumstances of the incident. They also announced that the leaked customer Bitcoins will be fully guaranteed with support from the group company.

This large-scale virtual asset outflow incident involving a Japanese operator is the first in about three years since 2021. In terms of amount, it appears to be the second largest since the 2018 Coincheck cryptocurrency hacking incident, which involved 58 billion yen.

The Japanese Financial Services Agency ordered DMM Bitcoin to identify the cause and protect customers based on relevant laws. Local police also recognized the occurrence of the unauthorized outflow and have launched an investigation.

DMM Bitcoin is a virtual asset exchange handling about 40 cryptocurrencies including Bitcoin, with approximately 370,000 customer accounts.

Due to this unauthorized outflow incident, some services such as new account openings, screenings, and spot purchase orders have been restricted.

There have been several past incidents of unauthorized cryptocurrency outflows due to hacking at Japanese virtual asset exchanges. In 2014, 48 billion yen was leaked from Mt. Gox, and in 2018, 58 billion yen was leaked from Coincheck.

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