Repository of Korea’s Corporate Filings reports that Upbit has made almost three times as much as Bithumb, the second largest exchange in the country. This is quite a huge profit since the launch of the company last year- $100 mln.
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In 2017, Bithumb officially submitted reports on profits equalling $400 mln and this year it has dropped to just $39 mln. Experts reckon that the general decline of the crypto market is hardly the reason for this. Rather, this is due to the hack that Bithumb encountered in June, losing about $40 mln.
Vladislav Sopov
Dan Burgin