You are here

South Korea crypto exchange Bithumb sold for US$354m to plastic surgeon-led group

file6ydkd8gwu6q1c9o5noa.jpg
South Korean major cryptocurrency exchange Bithumb was sold for about US$354 million to a consortium led by a plastic surgeon, a spokesman for the bourse said on Friday.

[SEOUL] South Korean major cryptocurrency exchange Bithumb was sold for about US$354 million to a consortium led by a plastic surgeon, a spokesman for the bourse said on Friday.

BK Global Consortium, led by Kim Byung-gun, plastic surgeon and blockchain platform investor, signed a deal on Thursday to buy 50 percent plus one share in the exchange's biggest stakeholder, BTC Holdings, for about 400 billion won (S$486.3 million), the spokesman said.

The deal makes BK Global Consortium the largest stakeholder of Bithumb.

Mr Kim is head of Singapore-based BK Medical Group that runs plastic and aesthetic clinics in South Korea and Singapore, and also a startup investor in the blockchain industry.

Hackers breached into Bithumb, one of the country's biggest virtual currency exchange, earlier this year and stole about US$32 million, sparking concerns over security risks of trading the digital asset.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes