According to the Nikkei Shimbun reported yesterday, the licensed cryptocurrency exchange DMM Bitcoin in Japan plans to raise 55 billion yen through capital increase and internal group loans to repay the 3.11 billion US dollars worth of Bitcoin stolen at the end of May.
DMM Bitcoin, a licensed cryptocurrency exchange in Japan, experienced a large amount of Bitcoin theft at the end of last month, with up to 4,502.9 BTC illegally transferred from the exchange, resulting in a loss of approximately 48.2 billion yen (3.11 billion US dollars).
In response to this background, the Nikkei Economic Newspaper reported late yesterday that in light of the Bitcoin theft incident on May 31, DMM Bitcoin will fully guarantee the Bitcoin lost by external customers with the support of its parent group company DMM.com. The specific plan is to raise 55 billion yen (322 million US dollars) through capital increase and internal group loans to compensate for customer losses.
For many readers, they may have only heard of DMM Bitcoin because of this incident, but the e-commerce giant DMM is a familiar name. The founder and current chairman of DMM, Keishi Kameyama, is not a second-generation wealthy individual. Before founding DMM, he was just a small company that rented AV videos. In the 1990s, Kameyama saw the huge potential of the internet and was the first to launch online AV sales through DMM.com, seizing the market opportunity and accumulating wealth and internet technology foundation.
After achieving initial success, Kameyama hoped to provide diversified services to meet market demands. He transformed DMM.com into a business empire integrating e-commerce, gaming industry, education, financial services, and more. Starting from selling adult videos, Kameyama has become a successful entrepreneur constantly challenging new markets.
Although the recent operations of DMM.com may not be as glorious as before, with the 3.11 billion US dollars worth of losses from DMM Bitcoin, it remains to be seen if the 64-year-old AV mogul can lead the company to continued growth.