PANews reported on December 2 that according to Jinshi, Japanese cryptocurrency exchange DMM Bitcoin will eventually be liquidated due to a 48.2 billion yen (about 321 million U.S. dollars) fraud in May, which has caused it to be unable to provide sufficient trading services to its customers. DMM Bitcoin plans to transfer its customer assets to SBI VC Trade, an exchange under the SBI Group, and the transaction is expected to be completed around March.

SBI VC Trade announced on Monday that it plans to begin processing spot trades for 14 cryptocurrencies currently traded on DMM Bitcoin before completing the transfer of custodial assets.