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Primary reason for DMM Bitcoin's liquidation in official statements?
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Resolution / Starting Odds
Security breach impact • 25%
Financial instability • 25%
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Official statements from DMM Bitcoin, financial news reports
Story
DMM Bitcoin to Liquidate Assets to SBI Group Subsidiary After 48.2 Billion Yen Hack
Dec 1, 2024, 09:49 PM
DMM Bitcoin, a Japanese cryptocurrency exchange, is set to shut down its operations and liquidate its assets, transferring them to a subsidiary of SBI Group. This decision follows a significant security breach in May, during which 48.2 billion yen worth of bitcoins were hacked. The company has abandoned its plans for restructuring after the incident, leading to the closure and asset sale, as reported by multiple sources including Nikkei and WuBlockchain.
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