Japanese cryptocurrency exchange DMM Bitcoin is closing after a fraud incident in May 2024, resulting in losses of 48.2 billion yen ($321 million). The incident affected 450,000 clients, and the total damage amounted to 96.2 billion yen. The exchange will transfer assets to the subsidiary SBI VC Trade by March 2025. Despite efforts to restore operations, security issues and loss of trust led to the closure of the exchange.
12/3/2024 2:34:02 PM (GMT+1)
DMM Bitcoin is closing after a fraud incident of 48.2 billion yen ($321 million) affecting 450,000 accounts. Asset transfer to SBI VC Trade by March 2025 💸
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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