Upbit operator Dunamu reports 78% profit drop amid cooling crypto market
Dunamu, the operator of South Korea's leading crypto exchange Upbit, reported a significant decline in profits due to a cooling crypto market. The company's first-quarter operating profit fell by 78% year-on-year, reaching 88 billion won. This drop is attributed to reduced trading volumes in the digital asset market amid a global economic downturn.
- ▪Dunamu's first-quarter operating profit plunged 78% year-on-year to 88 billion won.
- ▪Consolidated sales fell 55% year-on-year to 235 billion won.
- ▪Net profit also declined by 78% year-on-year, reaching approximately 70 billion won.
- ▪The company cited reduced trading volume in the virtual asset market as the main reason for weaker earnings.
- ▪Transaction fees account for 97% of Dunamu's revenue, making them vulnerable to market activity fluctuations.
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| Original publisher | Crypto Briefing |
| Canonical URL | https://cryptobriefing.com/upbit-operator-profit-drop-crypto-market-decline/ |
| Publication time | Sat, 16 May 2026 16:35:13 +0000 |
| Retrieval time | 2026-05-16T16:40:19.008Z |
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<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/16123336/e3b95f37-221e-4e4e-8933-dcefe523b2af-800x420.jpg" alt="Upbit operator Dunamu reports 78% profit drop amid cooling crypto market" class="w-full aspect-[19/10] object-cover" /> Upbit operator Dunamu reports 78% profit drop amid cooling crypto market Dunamu's earnings suffer as a result of slumping digital asset trading volumes. Share Add us on Google by Vivian Nguyen May. 16, 2026 Dunamu, the South Korean fintech company behind the country’s dominant crypto exchange Upbit, saw its first-quarter operating profit plunge 78% year-on-year to 88 billion won (approximately $59 million), according to reports.
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