The Japanese porn mogul who suffers a crypto hack for more than 295 million euros

The cryptocurrency buying and selling platform DMM Bitcoin announced this Wednesday its plan to raise 50 billion yen (295 million euros at the current exchange rate) with which it seeks to compensate its clients after a strong cyberattack suffered last Wednesday. The company has reported the theft of 4,503 bitcoins, equivalent to a little less than 294 million euros, representing the seventh largest crypto hack ever recorded, according to the analysis firm Chainalysis.

In a statement on Wednesday, the firm has assured that it “will be careful” not to affect the cryptocurrency market with these planned purchases and has added that an investigation into the cause of last week’s “unauthorized departure” is ongoing.

For its part, the local regulator, the Financial Services Agency of Japan, has instructed DMM Bitcoin to report on the causes of the cyberattack, as well as compensation policies for clients. For his part, the Minister of Finance, Shunichi Suzuki, promised that the local government works to prevent future security incidents in the crypto market.

He exchange is a subsidiary of DMM.com, a company founded at the end of the 90s, in the middle of the Japanese economy boom. The company now spans more than 20 businesses and had group revenues of around €2 billion in the 12 months to February, according to its website. The group’s CEO, Keishi Kameyama, once stood out as an adult entertainment mogul and was later recognized as an Internet pioneer. His commitment to digital content made him one of the richest people in Japan.

Kameyama continues to be involved in industries as diverse as video distribution and anime production, to solar energy deployment and 3D printer development. The Japanese tycoon is also in charge of managing a Belgian soccer team, according to the conglomerate’s website.

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