Daniel from Improve Press
Dunamu has launched its monetary report for the
third quarter, highlighting a major downturn in its monetary
efficiency. The corporate’s internet 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 final 12 months. In keeping with an announcement revealed by
the corporate, this downturn was attributed to numerous components, primarily the
world financial recession and lowered liquidity available in the market.
The decline in gross sales and revenue was attributed to a sluggish funding skilled available in the market, which was affected by the prevailing financial
recession. Moreover, the corporate confronted substantial losses within the valuation of digital belongings, primarily resulting from a decline in costs in comparison with the
earlier quarter.
Regardless of the difficult market situations, Dunamu is
pivoting in direction of popularizing blockchain companies as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its expertise to revitalize the blockchain ecosystem.
Dunamu is intensifying efforts to strengthen its
safety infrastructure amidst a major rise in hacking makes an attempt on Upbit.
Regardless of dealing with 159,000 hacking makes an attempt within the first half of 2023, the alternate
hasn’t reported any breaches because it skilled an exploit that led to a loss
of $50 million in 2019.
Dunamu introduced the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The alternate
has strengthened safety measures, notably rising chilly pockets holdings to
70%. Moreover, it has enhanced the protocols for funds saved in sizzling wallets, that are extra
susceptible to breaches.
Consultant Seong-jung urged the South Korean
authorities, particularly the Ministry of Science and Know-how, to conduct
complete safety exams and bolster defenses towards cyberattacks
concentrating on digital asset exchanges.
Different exchanges like CoinEx and Huobi World have
confronted substantial breaches, emphasizing the vulnerability of cryptocurrency
exchanges to cyberattacks and the pressing want for industry-wide safety
enhancements.
Aiming for Development and World Growth
Upbit Singapore obtained an in-principal approval for a Main
Fee Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto alternate
to offer regulated digital fee token companies underneath Singapore’s Funds
Providers Act whereas awaiting full approval.
Upbit Singapore, operational since 2018, beforehand
obtained exempt standing in 2020, recognizing its adherence to regulatory
requirements. This improvement adopted the acquisition of MPI licenses by different notable entities in Singapore, like Ripple, Coinbase, and Sygnum.
Singapore has turn into an interesting vacation spot for
crypto companies searching for to increase throughout the Southeast Asian market resulting from clear
crypto laws.
Dunamu has launched its monetary report for the
third quarter, highlighting a major downturn in its monetary
efficiency. The corporate’s internet 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 final 12 months. In keeping with an announcement revealed by
the corporate, this downturn was attributed to numerous components, primarily the
world financial recession and lowered liquidity available in the market.
The decline in gross sales and revenue was attributed to a sluggish funding skilled available in the market, which was affected by the prevailing financial
recession. Moreover, the corporate confronted substantial losses within the valuation of digital belongings, primarily resulting from a decline in costs in comparison with the
earlier quarter.
Regardless of the difficult market situations, Dunamu is
pivoting in direction of popularizing blockchain companies as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its expertise to revitalize the blockchain ecosystem.
Dunamu is intensifying efforts to strengthen its
safety infrastructure amidst a major rise in hacking makes an attempt on Upbit.
Regardless of dealing with 159,000 hacking makes an attempt within the first half of 2023, the alternate
hasn’t reported any breaches because it skilled an exploit that led to a loss
of $50 million in 2019.
Dunamu introduced the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The alternate
has strengthened safety measures, notably rising chilly pockets holdings to
70%. Moreover, it has enhanced the protocols for funds saved in sizzling wallets, that are extra
susceptible to breaches.
Consultant Seong-jung urged the South Korean
authorities, particularly the Ministry of Science and Know-how, to conduct
complete safety exams and bolster defenses towards cyberattacks
concentrating on digital asset exchanges.
Different exchanges like CoinEx and Huobi World have
confronted substantial breaches, emphasizing the vulnerability of cryptocurrency
exchanges to cyberattacks and the pressing want for industry-wide safety
enhancements.
Aiming for Development and World Growth
Upbit Singapore obtained an in-principal approval for a Main
Fee Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto alternate
to offer regulated digital fee token companies underneath Singapore’s Funds
Providers Act whereas awaiting full approval.
Upbit Singapore, operational since 2018, beforehand
obtained exempt standing in 2020, recognizing its adherence to regulatory
requirements. This improvement adopted the acquisition of MPI licenses by different notable entities in Singapore, like Ripple, Coinbase, and Sygnum.
Singapore has turn into an interesting vacation spot for
crypto companies searching for to increase throughout the Southeast Asian market resulting from clear
crypto laws.
