DMM Bitcoin, a Japanese cryptocurrency exchange, is preparing for liquidation after losing $320 million in BTC due to a hack in May. The company was unable to recover and plans to transfer client assets to SBI VC Trade by March. 🚨

• The hack led to the leakage of over 4500 BTC.

• DMM promised to compensate for the losses, but the efforts were unsuccessful.

• This is the second largest hack in the region after Coincheck in 2018.

Centralized exchanges continue to face security issues.