CandleFocus DMM Bitcoin Set for Liquidation after $320 Million Hack
2024-12-04
Author: Content Editor
Japanese crypto exchange DMM Bitcoin is closing down after a $320 million hack that occurred several months ago. The exchange has been attempting to recover customer assets but is now transferring accounts to SBI VC Trade. It is suspected that the hack was carried out by Lazarus Group, a North Korean hacker group, and Japanese financial regulators have warned other exchanges to tighten their security measures. Despite efforts to remain solvent, DMM Bitcoin ultimately decided to discontinue its business and transfer its remaining assets to another exchange.
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