The Japanese cryptocurrency exchange, DMM Bitcoin, will cease operations in March 2025 following a hack that caused damage of over 300 million USD. This decision comes after many unsuccessful recovery efforts. All assets of DMM Bitcoin will be transferred to SBI VC Trade, a subsidiary of the SBI Group. The transfer is expected to be completed by the end of Q1 2025, including customer accounts and assets.

DMM Bitcoin was attacked on May 31, 2024, losing 4,502.9 BTC. Despite efforts to recover, the exchange had to close due to service restrictions and increasing challenges. This is the second largest attack in Japan after the Coincheck incident in 2018.