DMM Bitcoin plans to raise $320m to compensate recent hack victims.

The company DMM Bitcoin announced its plans to obtain 2 billion yen through subordinated loans on June 10. It assured that these loans and fundraising efforts would not impact the overall pricing of the BTC market.

No further details regarding the hack were provided, but the company promised a thorough investigation. The website stated, “We are currently continuing our investigation into the cause of the unauthorized disclosure.

We will provide a follow-up update as soon as details are known.” The total value of the BTC at the time was said to be $319 million. DMM Bitcoin claimed that all the BTC was “leaked” from customers’ wallets and pledged a full reimbursement.

The company initially asserted its ability to issue full refunds by citing compliance with Japanese regulations that mandate virtual asset service providers to separate corporate liquidity from user funds.

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