Japanese cryptocurrency exchange DMM Bitcoin is shutting down following a massive $320 million hack. Despite efforts to recover customer assets, the company is now transferring accounts to SBI VC Trade. The hack, believed to be orchestrated by the Lazarus Group, a North Korean hacker group, prompted Japanese financial regulators to urge stricter security measures for other exchanges. DMM Bitcoin, which fell victim to the hack several months ago, is currently in the process of liquidation. The closure was announced through a statement released by the company, expressing regret for the inconvenience caused to customers. Despite attempts to recover stolen assets, the exchange ultimately decided to cease operations and transfer remaining assets to SBI VC Trade. The incident serves as a reminder of the importance of using secure and reputable cryptocurrency exchanges, especially in light of ongoing cyber threats in the industry. Read more AI-generated news on: https://app.chaingpt.org/news