Hacked Japanese crypto exchange DMM.com has reached an agreement with SBI Cryptage, a subsidiary of SBI Financial Group, to reopen accounts and restart operations after a major hack in April 2020. The deal marks a significant turn of events for the exchange, which had been shut down since the hack, which resulted in the loss of 58 billion JPY (approximately $540 million USD) in cryptocurrency.
According to the agreement, SBI Cryptage will assist DMM in restoring its operational systems and ensuring the security of customer assets. The two companies will also work together to develop a system for handling and managing cryptocurrency funds.
The deal is expected to come into effect in March, at which point DMM will be able to reopen its accounts and resume trading. The agreement is a significant development in the wake of the hack, which had left many users with outstanding balances and losses. The partnership with SBI Cryptage is seen as a major step in helping DMM to recover and rebuild trust with its customers.
Source: https://cointelegraph.com/news/dmm-transfer-deal-sbi-accounts-open-march