After the turbulence of 2023, Bithumb saw a 565% increase in net profit in 2024.
South Korea’s cryptocurrency exchange Bithumb has successfully made profitable last year, and reports that News1 is reporting, citing data from the financial supervisory services’ electronic disclosure system.
According to the report, Bithumb recorded operating profit of 1300.7 billion won (approximately $90.1 million) last year, indicating a shift from losses as it recorded an operating loss of 14.8 billion won in 2023.
Revenue reached 496.3 billion won, reflecting a 265.4% increase from the previous year, with Bithumb attributed to an overall recovery in the cryptocurrency market and improved investor sentiment.
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Despite issues reported between Bithumb’s previous management and the Korean authorities, strong financial results have been brought. As Crypto.News previously reported, South Korean prosecutors claimed that they stormed Bithumb’s headquarters in late March, and that exchange funds were used to help the former CEO buy the apartment.
The investigation is reportedly investigating whether former advisor and former CEO Kim Dae-Sik provided money for an apartment in Seoul’s Seongsu-Dong area. According to sources close to the incident, Bithumb may have given Kim a lease deposit of 3 billion won (approximately $2.4 million).
read more: Bithumb has been adopting Kookmin Bank as its new partner bank since March 2025
