Japanese crypto exchange DMM Bitcoin plans to cease operations by March 2025, transferring customer accounts and custodial assets to SBI VC Trade, the crypto arm of financial giant SBI Holdings, according to a statement Monday.
The closure comes months after DMM Bitcoin disclosed a $305 million loss due to a cyberattack that resulted in the theft of 4,502.9 Bitcoin (BTC).
The breach prompted the suspension of spot trading and withdrawal services, significantly impairing the platform’s operations.
DMM Bitcoin said it will announce further details regarding the transfer process, including the exact migration timeline and steps for customers, “as soon as they are determined.”
Customers with leveraged trading positions must close those…
Jan 10 2025
