💰 Report: South Korea's Top Crypto Exchange Bithumb Records $175 Million Net Loss in 2018
According to Yonhap, a mainstream media outlet in South Korea, Bithumb, one of the largest crypto exchanges in South Korea, recorded a net loss of $175 million in 2018. In 2017, Bithumb recorded a profit of over $350 million as the volume of various crypto assets in the local cryptocurrency exchange market surged. The auditor of Bithumb confirmed the numbers and verified that all user holdings are securely held by the company. A Bithumb representative said, "even during a phase in which the cryptocurrencymarket is struggling, Bithumb is sustaining a solid business with unique services and global market dominance. Bithumb will put in all efforts in protecting user funds."
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