The helping hand to the Japanese exchange DMM Bitcoin, which was hacked last May, came from a large Japanese company.
Accordingly, Japan-based financial giant SBI Holdings made an important collaboration with cryptocurrency exchange DMM Bitcoin, which was subjected to a cyber attack in May.
SBI, also a Ripple partner, has signed an agreement with DMM Bitcoin for client accounts, asset transfers, and new crypto trading offerings.
As per the agreement, in a major relief to DMM Bitcoin users, SBI VC Trade will transfer the client accounts and custody assets of DMM Bitcoin users to its platform by March 8, 2025.
DMM Bitcoin users will not need to open a new account with SBI VC Trade as their assets will be transferred directly.
As is known, cryptocurrency exchange DMM suffered a major attack in May of this year, when servers were compromised, and hackers stole 4,500 Bitcoins (BTC), worth $320 million at the time. The hack hit the exchange hard, and despite the company making great efforts to recover the stolen funds, it was unable to recover the stolen BTCs.
*This is not investment advice.
