Korea's Top Bitcoin Exchange Posts W200 Billion Loss

  • By Oh Rora

    April 12, 2019 09:47

    Korea's largest cryptocurrency exchange Bithumb suffered a W205.5 billion net loss in 2018, operator BTC Korea said Thursday (US$1=W1,141).

    Sales rose 17 percent on year to W391.7 billion, but operating profit dropped three percent to W256.1 billion.

    Despite the operating profit, losses from the plummeting value of its cryptocurrency holdings as the Bitcoin bubble burst totaled W381.9 billion.

    One market insider said, "The company's structure makes it highly sensitive to fluctuations in the value of its cryptocurrency holdings."

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