Bithumb soon emerged as South Korea’s largest cryptocurrency exchanges as retail investors took to adopting cryptocurrencies in the following years. According to data from CoinMarketCap, Bithumb reported a transactional volume of $1.2 billion in cryptocurrency trading over a 24-hour period, making it the world’s second-largest crypto exchange at the present time launched in June 2016, South Korea’s largest cryptocurrency exchange by trading volume, Bithumb, has seen a Singapore-based blockchain consortium become its majority owner in a $350 million deal.
It was reported by Korean Publication, BTC Holdings Company, which was Bithumb’s biggest stakeholder until Thursday with a 75.99% stake finalized an agreement to sell 50 percent plus one stake for 400 billion won (approx. $352 million) with BK Global, a Singaporean consortium.
Bithumb’s acquisition comes after a tumultuous year for the exchange wherein, despite reported net profits of over $30 million in H1 2018, the exchange suspended user deposits and withdrawals in June following a $30 million theft of cryptocurrencies by hackers in June.
Bithumb has also announced the expansion to new markets in Japan and Thailand, in addition to an upcoming launch of a decentralized exchange for the global market.