Japanese crypto exchange DMM Bitcoin plans to compensate victims of a recent hack that stole approximately 4,503 BTC ($318.61 million). The company aims to raise 55 billion yen ($352.3 million) through loans and capital increases from group companies to repay affected customers.
DMM Bitcoin’s fundraising strategy includes borrowing 5 billion yen on June 3, raising 48 billion yen via a capital increase on June 7, and securing 2 billion yen through subordinated loans on June 10. These funds will be used to repurchase the stolen BTC, repay customers, and manage withdrawals.
The hack occurred on May 31, leading to restrictions on spot purchases and delays in yen withdrawals. The exchange has assured customers of full compensation once the funds are raised. The cause of the hack is under investigation, with more details to be provided later.
Blockchain security firm Blocksec reported that the stolen BTC was moved to an external wallet and then distributed across ten different wallets.
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