QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$308 949 000 USD
MAY 2024
GLOBAL
DMM BITCOIN
DESCRIPTION OF EVENTS
"At around 13:26, we detected an outflow of Bitcoin (BTC) from our wallet.
Details of the damage situation will continue to be under investigation, but what is known at this stage is as follows. In addition, although we have already taken measures against fraudulent spills, we have implemented restrictions on the use of some services as much as possible to ensure additional safety."
"We would like to inform you separately regarding the resumption of service.
We deeply apologize for any inconvenience and concern to our customers in this event."
"The root cause of the attack has yet to be revealed, whether it is an address spoofing incident, private key compromise or even an inside job, remains to be seen."
"While on-chain sleuths have cracked some historic hacks, this trail of tainted coins spread across multiple addresses could prove a byzantine blockchain maze."
DMM Bitcoin is a large Japanese exchange platform, with colourful marketing depicting the bitcoin being lovingly held by a Japanese supermodel. Unfortunately, such security does not appear to have been very effective in preventing the bitcoin from getting stolen. Recovery is still underway.
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