Japanese financial giant SBI Group's cryptocurrency subsidiary 'SBI VC Trade' has confirmed it will take over the accounts and assets of the hacked cryptocurrency exchange DMM Bitcoin, with the transfer expected to be completed by March 8, 2025. This marks the conclusion of DMM Bitcoin's liquidation following a $305 million hack in May 2024, after which SoftBank will take over the cryptocurrency exchange business.
According to an announcement on December 25, customer accounts will be automatically transferred to SBI VC without the need for re-registration. SBI will take over DMM users' fiat and cryptocurrency assets as well as all transaction records. Additionally, SBI will introduce 14 new cryptocurrencies, including Tron, The Sandbox, Algorand, and Maker, along with some leveraged trading pairs, but existing trading pairs will not be included.
For assets such as ETH and AVAX held by DMM, SBI will automatically enable staking, with the first staking rewards expected to be distributed in April 2025. This indicates that SBI Group is not only actively investing in AI business; previously, Masayoshi Son announced a $100 billion investment plan in the U.S. to design and build an AI center. At the same time, the company is also actively laying out in the cryptocurrency field and will operate its own cryptocurrency exchange in the future.
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"MICA Daily｜SoftBank Group (SBI) will take over DMM Bitcoin exchange, expanding its business scope" This article was first published on (Blocker).
