The licensed cryptocurrency exchange DMM Bitcoin in Japan announced today that it will cease operations due to limited services after losing 4,502.9 bitcoins in a hack in May this year. The company plans to transfer customer accounts and custody assets to SBI Group's cryptocurrency exchange, SBI VC Trade, by March next year. (Background: The seventh largest in history! DMM Bitcoin was hacked and lost 4,503 bitcoins, prompting a thorough investigation and compensation plan by the Japanese Financial Services Agency) (Additional context: A nightmare replay! DMM Bitcoin exchange in Japan was hacked, losing 4,503 bitcoins and over 48 billion yen) DMM Bitcoin, a licensed cryptocurrency exchange in Japan, was attacked by hackers in May this year, resulting in the theft of 4,502.9 bitcoins worth $320 million. Originally, in June this year, DMM Bitcoin received support from its parent company, DMM.com, a Japanese e-commerce group, raising 55 billion yen to compensate customers for their losses due to the bitcoin theft incident. By mid-June, they had completed the repurchase of the stolen bitcoins, but the exchange decided to abandon the restructuring plan as it could not continue to provide sufficient services to its customers. DMM Bitcoin ceases operations and transfers assets to SBI Group. DMM Bitcoin stated today that it has reached an agreement with SBI Group's cryptocurrency exchange, SBI VC Trade, to plan the transfer of customer accounts and custody assets by March next year. However, outstanding positions in leveraged trading are not included in the transfer, and users must close all related positions before the asset transfer is completed. The statement pointed out that SBI VC Trade will take over DMM Bitcoin's existing 14 types of cryptocurrency spot trading services, gradually launching them before the asset transfer is completed. According to Nikkei News, DMM Bitcoin is considered a medium-sized exchange. Based on DMM Bitcoin's financial report data as of the end of March, the exchange has 450,000 customer accounts and manages assets worth approximately 96.2 billion yen. SBI VC Trade is expected to acquire these accounts and assets for a price between 3 billion and 5 billion yen. As another medium-sized exchange in Japan, SBI VC Trade has about 700,000 accounts. The company has attracted more customers through collaboration with SBI Group's SBI Securities. This acquisition of DMM Bitcoin's business is expected to bring a new customer base to SBI. SBI continues to expand its blockchain layout. In recent years, SBI Group has continued to expand its presence in the blockchain field. Tom Menner, Chief Technology Officer of SBI Digital Markets, attended the SmartCon conference organized by Chainlink in October this year, discussing how DeFi and traditional finance can achieve integration through interoperability alongside representatives from HSBC, Aave, and Chainlink, thereby creating more new financial products. Regarding how to connect TradFi and DeFi, Tom Menner mentioned at the time that it is necessary to build an ecosystem that allows both markets to speak the same language, traditionally achievable through custodians who can hold assets, but the true interoperability layer should be seamlessly realized on-chain or across chains. Related reports: Japanese e-commerce giant DMM announces abandonment of cryptocurrency mining business; who is the mysterious AV godfather behind the 4,502 BTC theft? Japanese investment banking giant SBI's CEO: Ripple hopes to go public after settling with the SEC lawsuit. "After the theft of 4,500 bitcoins, DMM Bitcoin exchange in Japan ceases operations, and assets will be transferred to SBI Group." This article was first published by BlockTempo, the most influential blockchain news media.