Japanese cryptocurrency exchange DMM Bitcoin will cease operations by March 2025 after a hacking attack resulting in losses exceeding $300 million. 😮

After unsuccessful attempts to recover, the exchange plans to transfer all assets to SBI VC Trade. The transfer is expected to be completed by the end of the first quarter of 2025.

Despite efforts, including a loan of 5 billion yen, the exchange was unable to recover and decided to shut down.