Japanese cryptocurrency exchange DMM Bitcoin announced on Friday that it had fallen victim to a significant security breach, resulting in the theft of over $300 million worth of bitcoin.

According to the company’s statement, the breach was detected at approximately 1:26 p.m. on Friday, May 31, 2024. The unauthorized access led to the loss of 4,502.9 bitcoin, valued at around $306 million. The incident was swiftly communicated via an English translation of the original Japanese statement posted on the company's website.

Response and Assurance:
DMM Bitcoin, a subsidiary of DMM Group, assured its clients that their bitcoin deposits would be fully guaranteed. The exchange promised to procure the equivalent amount of the stolen BTC with the support of its group companies to reimburse affected customers.

"Please rest assured that all of your bitcoin deposits will be fully guaranteed, as we will procure the equivalent amount of BTC that was leaked with support from our group companies," the exchange stated.

Ongoing Investigation:
The exchange did not provide specific details about how the breach occurred or the measures being taken to prevent future incidents. The announcement of the breach and the promise of full reimbursement aim to maintain customer trust and mitigate the potential fallout from such a significant security lapse.

Context:
This incident adds to a growing list of high-profile cryptocurrency thefts, highlighting ongoing security challenges within the industry. It underscores the importance of robust security measures and prompt, transparent communication with customers in the event of a breach.

DMM Bitcoin is working closely with authorities and cybersecurity experts to investigate the breach and enhance its security protocols to prevent future occurrences.

As the investigation continues, DMM Bitcoin's commitment to reimbursing affected customers will be crucial in maintaining its reputation and customer base in the highly competitive cryptocurrency exchange market.