{"id":143759,"date":"2024-12-02T11:00:37","date_gmt":"2024-12-02T09:00:37","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=143759"},"modified":"2024-12-02T10:27:03","modified_gmt":"2024-12-02T08:27:03","slug":"japanese-crypto-exchange-to-shut-down-after-320-million-hack","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/japanese-crypto-exchange-to-shut-down-after-320-million-hack\/","title":{"rendered":"Japanese Crypto Exchange to Shut Down After $320 Million Hack"},"content":{"rendered":"<p>The company <strong><a href=\"https:\/\/asia.nikkei.com\/Spotlight\/Cryptocurrencies\/Japan-crypto-exchange-DMM-Bitcoin-set-for-liquidation\" rel=\"nofollow\">plans<\/a> <\/strong>to transfer customer accounts and assets to SBI VC Trade, part of SBI Group, by March 2025.<\/p>\n<p>The attack exploited private key vulnerabilities, leading to the theft of over 4,500 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong>. DMM initially promised full compensation but was unable to sustain operations despite support from its parent company. The incident, linked to the Lazarus Group by blockchain investigator ZachXBT, involved laundering activities on suspicious platforms.<\/p>\n<p>This marks one of Japan\u2019s largest crypto heists since the 2018 Coincheck breach. DMM also recently abandoned its Web3 gaming initiative, Seamoon Protocol, citing unfavorable market conditions.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-143683\" href=\"https:\/\/cryptodnes.bg\/en\/115-million-fraud-scheme-exposed-in-massive-sec-lawsuit-against-crypto-firm\/\" title=\"$115 Million Fraud Scheme Exposed in Massive SEC Lawsuit Against Crypto Firm\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/1140-wooden-gavel-court-house-ruling-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">$115 Million Fraud Scheme Exposed in Massive SEC Lawsuit Against Crypto Firm<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>The closure highlights a challenging year for exchanges, with major hacks affecting platforms like WazirX and BingX, resulting in hundreds of millions of dollars in combined losses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DMM Bitcoin, a Japanese crypto exchange, is shutting down after failing to recover from a May hack that saw over $320 million in Bitcoin stolen.<\/p>\n","protected":false},"author":7,"featured_media":29764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[72,424],"coin_category":[],"class_list":["post-143759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime","tag-bitcoin","tag-crypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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