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

[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