The South Korean trading platform Upbit announced financial results for the year 2018. Upbit managed to become the only one among top South Korean crypto exchanges who made a profit in 2018.

In 2018, Upbit reported a net income of $120 million and an operating profit of $253 million, Coindesk Korea reports. According to the financial report that was audited and published on the portal of the Financial Supervision Service of South Korea (FCC), in 2018, Upbit's profit increased by 33%.

Meanwhile, Bithumb, Coinoneб and Korbit, three of the four largest cryptocurrency exchanges in South Korea, received losses of $175 million, $5 million and $40 million, respectively, in 2018.

Upbit is operated by Dunamu Inc. and is a partner of the Bittrex exchange in the USA.

In 2017, the Bithumb crypto exchange was the most successful from a financial point of view, with $297 million of profit made only on trading fees, while Bithumb's total net profit for 2017 amounted to $380 million. But in the June 2018, Bithumb fell victim to a hacker attack, that resulted in a theft of $33 million in cryptocurrencies. However, later, thanks to cooperation with other trading platforms, Bithumb managed to recover part of the stolen funds, reducing damage to 19 billion won ($17 million).

In 2017, Upbit was the second crypto exchange by net income, with $182 million in revenue only from trading fees. Totally in 2017, 30 operators of South Korean cryptocurrency exchanges earned $648 million (700 billion won) on commissions for trade operations, which is 85 times more than the same indicator for 2016.