DMM Bitcoin will cease operations and sell its assets to a subsidiary of SBI Group

according to Nikkei, the Japanese cryptocurrency exchange DMM Bitcoin will cease operations and sell its assets to a subsidiary of SBI Group.

Due to the theft of Bitcoin worth 48.2 billion yen that occurred at the end of May this year, which led to restricted services, the company has abandoned its plans for restructuring. Customer assets held by DMM Bitcoin are expected to be transferred to SBI Group's cryptocurrency exchange SBIVC Trade around March 2025.