Despite the hack, Bithumb was able to rake in 39.34 billion won (~$35 million) in the first half of this year, according to South Korean news agency Yonhap, which analyzed the company’s semi-annual report published on the Financial Supervisory Service ‘s Electronic Disclosure System (DART).
The financial filing also revealed that Bithumb brought in $270 million in revenue before deductions, with an operating profit of $194 million. The report also noted that Bithumb’s net profits in 2017 were $380 million, which will likely turn out to be significantly more than the current year’s profit.
Following the hack, Bithumb halted its deposit and withdrawal services in June, as funds were rapidly moved into cold storage wallets to protect against additional losses. After that time, trading on the platform was intermittent with periods of significant downtime due to maintenance and security reviews.
However, on August 4, Bithumb reinstated trading on its platform and began slowly rolling out the markets for its 25 available cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Ethereum Classic (ETC).
Bithumb is now the 30th ranked cryptocurrency exchange, processing roughly $60 million in transactions per day.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.