South Korean cryptocurrency exchange Bithumb received for the first half of 2018 net profit of 39.34 billion won (about $35 million), reports Yonhap.
Income before deductions of crypto currency exchange for the first 6 months of the year amounted to $270 million, the company received an operating profit of $194 million Financial performance Bithumb revealed the manufacturer of video equipment company Vidente, which owns a 10.55% of shares of crypto currency exchange.
According to a recent audit Bithumb, the company’s net profit for last year amounted to $501 million, which is more than 14 times increase from the first half of this year.
In addition to the General decline in the cryptocurrency market, which is continuing this year, on the financial performance Bithumb could have other problems, faced by the exchange.
In December last year the South Korean authorities adopted a series of measures to regulate the cryptocurrency trade. From the 30th of January, the country enacted a ban on anonymous cryptocurrency trading, resulting in Bithumb has suspended the registration of new users.
In may Bithumb decided to prohibit the sale on its platform to users in 11 countries from the “black list” of the Group of development of financial measures of struggle against money-laundering (FATF). Available on the site the accounts of the inhabitants of these countries were closed.
In June Bithumb at all been compromised, the preliminary damage which was estimated at $30 million, later reduced to $16.9 million it is Unclear whether these losses in the financial results of the first half or the “company” refer them to a later period.
In the second half of the problem continued to pursue Bithumb — in early August, the stock exchange lost banking services in South Korea.