[NEWS] SBI VC Trade announces DMM Bitcoin customer asset transfer date

On the 25th, domestic cryptocurrency exchange SBI VC Trade announced that it had signed a contract to transfer customer assets from DMM Bitcoin, which has decided to go out of business.

According to the announcement, DMM Bitcoin's customer assets will be transferred to SBI VC Trade on March 8th of next year. DMM Bitcoin users do not need to open an account with SBI VC Trade. The transfer will apply to users who have an account with DMM Bitcoin as of March 4th of next year, and Japanese yen, spot crypto assets, and transaction reports for transactions made with DMM Bitcoin will also be transferred.

SBI VC Trade also revealed services after the transfer of DMM Bitcoin's customer assets.

First, it will begin handling stocks that are handled by DMM Bitcoin but not by SBI VC Trade by the transfer date. The target stocks will be 14 stocks, and if preparations are complete by the transfer date, SBI VC Trade will handle 38 stocks.

There are no plans to handle leveraged transactions for pairs not handled by SBI VC Trade. Open positions in leveraged transactions will also not be transferred.

For the staking service, users who hold Ethereum (ETH), Avalanche (AVAX), Oasis (OAS), Flare (FLR), and Hedera (HBAR) on DMM Bitcoin will be eligible for the service from March 8 next year. If you continue to hold these assets, the first staking rewards will be granted in early April next year.

In addition, according to an announcement by DMM Bitcoin, the deadline for changing account registration information at the exchange is scheduled for 6:59:59 on February 4. In addition, the deadline for settlement transactions of leveraged positions is 6:59:59 on February 22, and the settlement date for open positions in leveraged transactions is also scheduled for the same day.

The deadline for sales and deposit reflection processing of spot crypto assets is 11:59:59 on March 1, and the acceptance of withdrawal applications and cancellation requests in Japanese yen is also scheduled for the same time on the same day.

DMM Bitcoin will cease operations as soon as the transfer to SBI VC Trade is completed on March 8th.

The National Police Agency and other organizations announced on the 24th that the unauthorized leak of DMM Bitcoin data was identified as the work of a cyber attack group from the Lazarus Group, a North Korean hacker group.

The hackers contacted employees of Ginco, a cryptocurrency wallet company that DMM Bitcoin had outsourced its asset management, and infiltrated the company's internal system.

DMM Bitcoin lost a huge amount of Bitcoin (BTC) in this incident, amounting to 4,502.9 BTC. With no prospect of service resuming, the company decided on the 2nd of this month to transfer customer assets to SBI VC Trade.

Reference: SBI VC Trade announcement , DMM Bitcoin announcement
Image: Shutterstock

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