Japanese crypto exchange raises $320M to recover funds after major hack

DMM Bitcoin, a Japanese crypto exchange, aims to compensate users after losing $320 million in a recent hack. The exchange intends to raise 50 billion yen to cover losses by procuring Bitcoin from its parent company, DMM.com. Despite a dip in BTC prices, investigations are ongoing, and the company vows to minimize market impact. DMM.com will secure funds through borrowing and capital increases, ensuring customer reimbursement.

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