Asset Acquisition Following Cyberattack: SBI VC Trade Steps In to Support DMM Bitcoin Affected Users

SBI VC Trade Acquires DMM Bitcoin Assets Following $320M Cyberattack

In a shocking move, Japanese cryptocurrency asset management company, SBI VC Trade, has announced its intention to acquire the assets of fellow Japanese exchange, DMM Bitcoin. The decision comes in the aftermath of a massive cyberattack that saw hackers make off with approximately 4,500 bitcoins valued at around $320 million at the time.

The cyberattack, which occurred in May 2024, led to the theft of the substantial amount of cryptocurrency. DMM Bitcoin had initially pledged to reimburse affected customers and has since been working tirelessly to ensure a seamless transition.

SBI VC Trade’s acquisition of DMM Bitcoin assets is expected to provide stability and security for affected customers, ensuring continued service under its management. The company emphasized its commitment to maintaining high-security standards and rebuilding customer confidence in the exchange ecosystem.

The automatic transfer of accounts is set to minimize disruption and guarantee ongoing access to trading services.

Source: www.crypto-news.net