[NEWS] DMM Bitcoin raises 55 billion yen to fully cover unauthorized leaked bitcoins

On the 5th, DMM Bitcoin, a domestic cryptocurrency exchange, announced that it will provide 55 billion yen through borrowing and capital increases from group companies. The funds raised will be used to fully guarantee the amount of Bitcoin (BTC) that was unauthorized leaked the other day.

The funds raised will also be used to cover withdrawals from customers.

On the 31st of last month, DMM Bitcoin explained that it would procure the equivalent of the amount of Bitcoin that was stolen with the support of group companies and fully guarantee the amount of Bitcoin held by customers.

Going forward, DMM Bitcoin said it would procure the equivalent amount of Bitcoin leaked while taking care not to affect the market.

It has not been announced whether the services that were restricted due to the stolen funds will be resumed. In addition, the company said that it is still investigating the cause of the unauthorized leaked funds, and will announce the details as soon as they become clear.

Japan's largest unauthorized leaked

The amount of Bitcoin leaked from DMM Bitcoin was 4,502.9 BTC, which is worth approximately 49.6 billion yen at the time of writing.

In Japan, a stolen funds worth 58 billion yen (at the exchange rate at the time) was stolen from Coincheck in the past. This is the second largest case of unauthorized data leaks in Japan.

At a press conference after the Cabinet meeting on the 4th, Minister of Financial Services Shunichi Suzuki said, "I'm deeply sorry about the unauthorized data leaks from DMM Bitcoin," and said, "We will follow up on efforts, including the investigation into the cause, and respond appropriately from the perspective of protecting users."

Reference: Announcement

Image: Shutterstock

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