DMM Bitcoin lays out fundraising plan to repay theft victims

Cause of $300 million-plus “unauthorized leak” still unknown as company gets set for big fundraise


Roman Samborskyi/Shutterstock modified by Blockworks


A Japanese crypto exchange plans to pay back victims of a recent unauthorized leak in the coming days via raising capital.

DMM Bitcoin reiterated in a translated post that it would make available the entire amount of customer-held bitcoin lost in the leak “with support from our group companies.”

The company took out a loan worth $32 million, or five billion yen, on Monday. 

Read more: Japanese crypto exchange reports bitcoin theft worth $305M

DMM Bitcoin noted it planned to raise $310 million (48 billion yen) on June 7. It then seeks to secure an additional roughly $13 million (two billion yen) in subordinated debt on June 10.

The update comes about a week after DMM Bitcoin revealed 4,502.9 BTC — worth $305.1 million at the time — was stolen. After the theft took place on May 31 at 12:26 am ET (1:26 pm JST), the company stopped processing crypto withdrawals, spot market purchase orders and new leveraged trading positions.

DMM Bitcoin quickly said customer bitcoin deposits would be fully guaranteed — a promise the company has now repeated in its latest post. 

The crypto exchange intends to release a report with more details about the leak when it has them.

“We will continue to procure [b]itcoin equivalent to the amount leaked, taking care not to impact the market,” the company wrote. “We are currently continuing to conduct an investigation to determine the cause of the unauthorized leak.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


FTX debtors will pay the IRS $200M, with an outstanding lower priority claim of $685M


I’ve come to the realization that more attention is needed to create and sculpt the digital spaces where we live


The NYSE went down yesterday after a glitch caused a string of erroneous trades. Does DeFi fix this?


Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral



Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM


The side events were the places to be at Consensus 2024, according to attendees