This Is Why DMM Bitcoin Closes After $320 Million Hack
Japanese cryptocurrency exchange DMM Bitcoin has finally shut down after suffering a $320 million hack. The company has been trying to recover customer assets for months but is now moving the accounts to SBI VC Trade.
North Korean hacker group Lazarus Group may be responsible for hacking; Japanese financial regulator warns other exchanges to enact stricter rules Safety measure.
DMM Bitcoin Close
according to arrive Nikkei IndexDMM Bitcoin, Japanese cryptocurrency exchange, In liquidation. This happened a few months later The platform suffered a $320 million hackseriously disrupting operations. Corporate social media Account Don’t mention this closure and its blog It’s obviously gone down.
However, DMM Bitcoin did release a statement while the blog was still alive.
“With the protection of our customers as our top priority, we have decided to transfer all accounts and assets we hold to another company. We apologize for the inconvenience caused for so long. Therefore, the company plans to cease its operations,” DMM Bitcoin said. lead external.
In other words, closing was a tough decision. Despite the severity of the hack in May, DMM Bitcoin still tried to remain solvent: in June, for example, The company conducted a fundraising campaign Recover users’ stolen assets. Its success in this regard remains uncertain. The company abandoned the effort and transferred its remaining assets to exchange operator SBI VC Trade.
After hackers invaded, Famous Cryptocurrency Detective ZachXBT The North Korean hacker group Lazarus Group was accused of participating in the attack. ZachXBT traced approximately $35 million in funds from the hack to Cambodian money laundering services, Strong evidence of Lazarus’ involvement found. Nonetheless, DMM Bitcoin did not benefit greatly from this knowledge.
Although Cryptocurrency hacks significantly reducedcriminals still conduct complex and successful operations. Just use Safe and reliable cryptocurrency exchange Existing as always. Japanese financial regulator Warning to other Japanese exchanges Less than a week before DMM Bitcoin shuts down, regarding the need for oversight and registration.
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