Dunamu Q2 Operating Profit Plummets 85% Amid Revenue Decline

Upbit operator Dunamu reports 85% YoY operating profit drop to 23.5B won, citing weak sentiment and liquidity, shortly after $1.5B strategic investment.

Woofun AI data shows that Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, reported a second-quarter operating profit of 23.5 billion won, representing an 85% year-on-year decline and a 73% quarter-on-quarter drop. Commission revenue, which accounts for 97% of total income, fell by half in the first half of the year to 395.5 billion won. The company attributes this performance contraction to diminished global digital asset liquidity and subdued investor sentiment. This financial result emerges three months after Samsung, Hana Bank, and Hanwha invested approximately $1.5 billion in Dunamu, acquiring nearly 20% equity stake while maintaining a share valuation of 439,252 won. South Korea's planned implementation of a 22% capital gains tax on cryptocurrencies starting in January 2027 may further constrain market recovery.