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Japanese Exchange DMM Bitcoin to Cease Operations After $320 Million Hack

  • Japanese cryptocurrency exchange DMM Bitcoin is set to liquidate its assets and wind down operations following a $320 million hack.
  • Customer assets will be transferred to SBI VC Trade, a subsidiary of SBI Holdings, by March 2025.
  • DMM Bitcoin suffered a security breach in May, losing over 4,500 Bitcoin, and temporarily halted various operations.
  • The investigation into the hack is ongoing, but experts suspect the Lazarus Group, a North Korean hacking collective, may be responsible.

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