Upbit Operator Dunamu Reports $165M Q3 Profit, Up Over 300% YoY

Dunamu, the company behind South Korea’s leading crypto exchange Upbit, posted a sharp rise in profitability for the third quarter, reporting approximately $165 million in net income.

According to filings cited by Chosun Biz, this represents a year-over-year increase of more than 300%, far above last year’s $40 million result.

The company’s consolidated revenue reached $266 million, up 35% from the previous quarter, while operating profit grew 54% to $162 million. Net income also rose 145% quarter-over-quarter from $67 million.

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