South Korean cryptocurrency exchange Bithumb made net profits of 39.34 billion won (about $35 million) in the first half of this year, despite a rough June for the firm.
Vidente, a video equipment maker that owns 10.55 percent of Bithumb and 10 percent of its holding company, revealed the financial data to a South Korean financial regulator on Thursday, according to local news agency Yonhap.
Before deductions, the filings state, Bithumb collected a total of $270 million in revenue within the first six months of 2018, with $194 million in operating profits.
While the data for the same period last year is not available, Yonhap said Bithumb made $380 million in net profits in 2017 alone, more than 10 times its half-year profits so far.
It’s been a rocky summer for Bithumb so far. The platform suffered a major breach in June that saw around $31 million in cryptocurrencies stolen – though it later claimed to have clawed back $14 million. It’s not clear if that event has affected the disclosed first-half figures significantly or if the costs will be pushed to a later accounting period.
An investigation into possible tax evasion launched in January also saw the company receive a hefty bill of around $28 million as it concluded, also in June – although no wrongdoing was found.
Data from CoinMarketCap indicates the 24-hour trading volume on Bithumb, once the world’s largest cryptocurrency exchange, has taken a significant plunge this year.
For instance, on Jan. 2, Bithumb was the world’s third-largest trading venue with $2.5 billion in 24-hour trading volume. It has now dropped to the 19th, with around $71.7 million changing hands in the past trading day.