Proprietor of South Korean Main Trade Upbit Sees 81% Fall in Q3 Internet Revenue

Dunamu, the guardian firm of Upbit, one among South Korea’s distinguished cryptocurrency exchanges, witnessed a considerable lower in web revenue.

Dunamu attributed the decline in web revenue to a sluggish funding market ensuing from an financial downturn. The corporate additionally emphasised the impression of declining costs of digital property in comparison with Q3 final yr.

Regardless of the difficult market circumstances, Dunamu maintains an optimistic outlook for the longer term. The corporate believes that the widespread adoption of blockchain providers will play a crucial position in overcoming the continued bear market. A spokesperson from Dunamu expressed their dedication to revitalizing the blockchain ecosystem and establishing a complicated funding surroundings based mostly on their technological experience.

Alongside monetary difficulties, Dunamu has encountered cybersecurity threats. Not too long ago, the corporate disclosed that hackers focused its crypto change, Upbit, a staggering 159,000 occasions within the first half of 2023. This represents a 117% improve in hacking makes an attempt in comparison with the identical interval in 2022. Nevertheless, Upbit has efficiently averted any breaches since a $50-million exploit in 2019.

Tell us what you liked about this text, what may very well be improved, or share another suggestions by filling out this brief type.

This text accommodates hyperlinks to third-party web sites or different content material for data functions solely (“Third-Social gathering Websites”). The Third-Social gathering Websites should not beneath the management of CoinMarketCap, and CoinMarketCap isn’t accountable for the content material of any Third-Social gathering Web site, together with with out limitation any hyperlink contained in a Third-Social gathering Web site, or any adjustments or updates to a Third-Social gathering Web site. CoinMarketCap is offering these hyperlinks to you solely as a comfort, and the inclusion of any hyperlink doesn’t indicate endorsement, approval or suggestion by CoinMarketCap of the positioning or any affiliation with its operators.
This text is meant for use and should be used for informational functions solely. It is very important do your individual analysis and evaluation earlier than making any materials selections associated to any of the services or products described. This text isn’t supposed as, and shall not be construed as, monetary recommendation.
The views and opinions expressed on this article are the creator’s [company’s] personal and don’t essentially mirror these of CoinMarketCap.