Bithumb IPO and restructuring process
The developments in this story so far, most recent first.
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Development
Bithumb targets 2028 IPO with multi-year roadmap
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· date approximate Background
Bithumb's initial goal was to list in the same year it announced its restructuring.
In early 2025, Bithumb announced plans to split its core crypto trading platform from other activities as part of a restructuring process. At that time, the exchange's initial goal was to complete its initial public offering within that same year.
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· date approximate Background
Bithumb announced plans to split its core crypto trading platform business as part of a restructuring process.
In early 2025, Bithumb announced plans to split its core crypto trading platform business from its other activities. This move is part of a broader restructuring process for the South Korea-based exchange.
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Date unknown Background
Bithumb faced regulatory challenges following a $40 billion bitcoin transfer blunder.
Bithumb encountered regulatory difficulties following a blunder involving the mistaken transfer of a massive amount of bitcoin valued at $40 billion.
During a National Assembly parliamentary hearing on February 11, Bithumb CEO Lee Jae-won admitted to a deficiency in internal control, stating that the exchange's process for verifying the planned distribution against actual holdings had failed and the promotional amount had not been earmarked in a separate account.
The error occurred in February when a display error credited thousands of users with 620,000 Bitcoin instead of 620,000 Korean won in cash rewards. Although Bithumb recovered 99.7% of the erroneous credits, customers sold approximately 1,788 BTC before accounts were frozen.