DMM Bitcoin to Shut Down After Devastating Hack

DMM Bitcoin, a Japanese cryptocurrency exchange, will shut down operations after suffering a more than $300 hack in May. On Nov. 27, the exchange confirmed plans to transfer customer accounts and custodial assets to SBI VC Trade, a subsidiary of the Japanese financial giant SBI Group. The transfer is expected to be completed by March 2025. “All assets held by customers in accounts already opened with DMM Bitcoin... are scheduled to be transferred to the company around March 2025,” the notice said, according to a Google translation. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io