By CCN.com: South Korea is the fourth most active country in the world in crypto trading, per Coinhills. This, however, did not count for much as three of the country’s top four bitcoin exchanges recorded losses in 2018. The big four are Upbit, Bithumb, Coinone and Korbit. According to Business Korea, only Upbit recorded a profit among the four.
The largest loss was incurred by Bithumb. Last week, its parent company BTC Korea.com announced a net loss of 205.4 billion Korean won ($180.7 million) for 2018. The losses were largely attributed to the fall in the value of the cryptocurrencies that Bithumb held.