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Bithumb is a prominent South Korean cryptocurrency exchange founded in 2014 and headquartered in Seoul. Originally named Xcoin, it was rebranded to Bithumb in 2015. The exchange gained significant attention when BK Global Consortium acquired a majority share of its parent company, BTC Holding Co., in October 2018. In early 2019, Bithumb announced plans to merge with Blockchain Industries to create the Blockchain Exchange Alliance (BXA), aiming to become the first major cryptocurrency exchange to go public. Despite its growth, Bithumb has faced challenges, including a reported net loss of KRW 205.5 billion (approximately $180 million) in 2018, attributed to a decline in cryptocurrency prices and trading volume. The exchange has also been involved in controversies, including data breaches, government raids for alleged tax evasion, and multiple hacking incidents that resulted in significant losses. Despite these setbacks, Bithumb remains a key player in the cryptocurrency market.
Bithumb is a prominent South Korean cryptocurrency exchange founded in 2014 and headquartered in Seoul. Originally named Xcoin, it was rebranded to Bithumb in 2015. The exchange gained significant attention when BK Global Consortium acquired a majority share of its parent company, BTC Holding Co., in October 2018. In early 2019, Bithumb announced plans to merge with Blockchain Industries to create the Blockchain Exchange Alliance (BXA), aiming to become the first major cryptocurrency exchange to go public. Despite its growth, Bithumb has faced challenges, including a reported net loss of KRW ...
