Dunamu has launched its monetary report for the
third quarter, highlighting a big downturn in its monetary
efficiency. The corporate’s web revenue for the interval was KRW 29.5 billion, down
81.6% from the identical interval final 12 months.
The blockchain and fintech firm skilled a
lower of 29% in gross sales, leading to a drop of 39.6% in working revenue
in comparison with the identical interval in 2022. In response to an announcement by
the corporate, this discount is attributed to varied elements, primarily the
world financial recession and diminished liquidity available in the market.
The autumn in gross sales and revenue is attributed to a sluggish funding panorama skilled available in the market, which was affected by the prevailing financial
recession. Moreover, the corporate confronted substantial losses within the valuation of digital property, primarily as a result of a decline in costs in comparison with the
earlier quarter.
Regardless of the difficult market situations, Dunamu is
pivoting in the direction of popularizing blockchain companies as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its know-how to revitalize the blockchain ecosystem.
Dunamu is intensifying efforts to strengthen its
safety infrastructure amidst a big rise in hacking makes an attempt on Upbit.
Regardless of going through 159,000 hacking makes an attempt within the first half of 2023, the change
hasn’t reported any breaches because it skilled an exploit that led to a loss
of $50 million in 2019.
Just lately, Dunamu offered the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The change
has reportedly strengthened safety measures, notably rising chilly pockets holdings to
70%. Moreover that, it has enhanced the protocols for funds saved in sizzling wallets, that are extra
susceptible to breaches.
Different exchanges like CoinEx and Huobi International have
confronted substantial breaches, emphasizing the vulnerability of cryptocurrency
exchanges to cyberattacks and the pressing want for industry-wide safety
enhancements.
Aiming for Progress and International Growth
Upbit Singapore obtained an in-principal approval for a Main
Cost Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto change
to offer regulated digital cost token companies below Singapore’s Funds
Providers Act whereas awaiting full approval.
The platform, operational since 2018, beforehand
obtained exempt standing in 2020, recognizing its adherence to regulatory
requirements. This growth adopted the acquisition of MPI licenses by different notable entities in Singapore, like Ripple, Coinbase, and Sygnum.
Singapore has turn out to be an interesting vacation spot for
crypto companies in search of to increase throughout the Southeast Asian market as a result of clear
crypto laws.
Dunamu has launched its monetary report for the
third quarter, highlighting a big downturn in its monetary
efficiency. The corporate’s web revenue for the interval was KRW 29.5 billion, down
81.6% from the identical interval final 12 months.
The blockchain and fintech firm skilled a
lower of 29% in gross sales, leading to a drop of 39.6% in working revenue
in comparison with the identical interval in 2022. In response to an announcement by
the corporate, this discount is attributed to varied elements, primarily the
world financial recession and diminished liquidity available in the market.
The autumn in gross sales and revenue is attributed to a sluggish funding panorama skilled available in the market, which was affected by the prevailing financial
recession. Moreover, the corporate confronted substantial losses within the valuation of digital property, primarily as a result of a decline in costs in comparison with the
earlier quarter.
Regardless of the difficult market situations, Dunamu is
pivoting in the direction of popularizing blockchain companies as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its know-how to revitalize the blockchain ecosystem.
Dunamu is intensifying efforts to strengthen its
safety infrastructure amidst a big rise in hacking makes an attempt on Upbit.
Regardless of going through 159,000 hacking makes an attempt within the first half of 2023, the change
hasn’t reported any breaches because it skilled an exploit that led to a loss
of $50 million in 2019.
Just lately, Dunamu offered the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The change
has reportedly strengthened safety measures, notably rising chilly pockets holdings to
70%. Moreover that, it has enhanced the protocols for funds saved in sizzling wallets, that are extra
susceptible to breaches.
Different exchanges like CoinEx and Huobi International have
confronted substantial breaches, emphasizing the vulnerability of cryptocurrency
exchanges to cyberattacks and the pressing want for industry-wide safety
enhancements.
Aiming for Progress and International Growth
Upbit Singapore obtained an in-principal approval for a Main
Cost Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto change
to offer regulated digital cost token companies below Singapore’s Funds
Providers Act whereas awaiting full approval.
The platform, operational since 2018, beforehand
obtained exempt standing in 2020, recognizing its adherence to regulatory
requirements. This growth adopted the acquisition of MPI licenses by different notable entities in Singapore, like Ripple, Coinbase, and Sygnum.
Singapore has turn out to be an interesting vacation spot for
crypto companies in search of to increase throughout the Southeast Asian market as a result of clear
crypto laws.
