Four major South Korean crypto exchanges post $361M in first-half losses

South Korea’s four major cryptocurrency exchanges posted combined losses of about 500 billion won ($361 million) in the first half of this year, The Korea Economic Daily reported. For South Korean exchange Upbit, the losses were largely tied to falling coin prices. The book value of virtual assets held by Dunamu, Upbit’s operator, fell by about 690 billion won ($498 million) to 1.64 trillion won ($1.18 billion) at the end of June from 2.3326 trillion won ($1.69 billion) at the end of last year, resulting in a 687.8 billion won ($497 million) revaluation loss in the first half. South Korean exchange Bithumb posted a net loss of 108.7 billion won ($78 million) in the first half, swinging into the red. Coinone is also estimated to have posted a loss of about 20 billion won ($14 million), while DigitalX, formerly Korbit, is estimated to have recorded a loss of more than 10 billion won.