TechFlow News — On December 2, according to the Nikkei, Japanese cryptocurrency exchange DMM Bitcoin plans to liquidate its operations. The exchange suffered a private key breach in May this year, resulting in the loss of over 4,500 bitcoins (approximately $320 million). Reports indicate that DMM Bitcoin has abandoned its restructuring efforts and intends to transfer user assets to SBI VC Trade, an exchange operator under the SBI Group, by March next year.
In July, blockchain analyst ZachXBT revealed that around $35 million stolen in the incident had been funneled to the online trading platform Huione Guarantee, noting that the attack's methodology resembles that of the Lazarus group. This marks the second-largest cryptocurrency security incident in Japan since the 2018 Coincheck hack, in which $530 million was stolen.
