Japanese cryptocurrency exchange DMM Bitcoin said it raised about 55 billion yen ($365.1 million) in June through various financing plans. Specifically, on June 3, the company raised 5 billion yen ($33.2 million) through borrowing, and on June 7, it raised 48 billion yen ($318.6 million) through capital increase. The last tranche of funds arrived on June 10, when DMM Bitcoin received an additional 2 billion yen ($13.3 million) through subordinated borrowing.
DMM Bitcoin plans to cease operations after completing the asset transfer to SBI VC Trade, according to an official statement.
SBI VC Trade announced on Monday that it plans to start processing spot transactions for 14 cryptocurrencies currently traded on DMM Bitcoin before completing the transfer of custodial assets.
This morning, DMM Bitcoin said it would cease operations. The company abandoned its attempt to reorganize its operations due to the theft of 48.2 billion yen worth of bitcoin in late May this year, which restricted its services. The customer assets held by DMM Bitcoin are expected to be transferred to SBIVC Trade, a cryptocurrency exchange under the SBI Group, around March 2025.
Earlier in May, DMM Bitcoin was hacked and 4502.9 BTC was stolen, resulting in a loss of US$305 million.