Upbit, Korea’s Largest Trading Platform, Earns $100 Mln Despite Deep Red Market

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.

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.