Japan-focused cryptocurrency financial company SBI VC Trade will receive the assets of the cryptocurrency exchange DMM Bitcoin, which was hacked, with customer accounts expected to be ready by March next year.
SBI announced that it has agreed to receive all DMM customer accounts and assets, which will be migrated to SBI on March 8, 2025.
The company stated that DMM customers do not need to reopen accounts at SBI, as SBI will automatically create accounts for the transferred DMM users.
DMM Bitcoin stated earlier this month that it decided to liquidate and transfer its customers to SBI due to its inability to recover from a May hacking incident that resulted in the theft of $320 million.