DMM Bitcoin, which suffered a private key hack in May that caused a loss of $320 million in Bitcoin is reportedly ceasing efforts to revamp operations.
Japanese cryptocurrency exchange DMM Bitcoin is reportedly prepping to liquidate after losing $320 million in Bitcoin from a private key hack in May that the company has failed to recover from.
The crypto exchange is also reportedly ceasing efforts to revamp operations and intends to transfer customer assets to SBI VC Trade, an exchange operator under SBI Group, around March, reported Nikkei Asia on Dec. 2, without sharing its source.
Cointelegraph reached out to DMM Bitcoin for comment.
