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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 yr.
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 yr. In response to an announcement revealed by
the corporate, this downturn was attributed to varied components, primarily the
world financial recession and decreased 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 circumstances, Dunamu is
pivoting in direction of popularizing blockchain providers as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its expertise to revitalize the blockchain ecosystem.
Hold Studying
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.
Dunamu offered the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The change
has bolstered safety measures, notably rising chilly pockets holdings to
70%. Moreover, it has enhanced the protocols for funds saved in scorching wallets, that are extra
weak to breaches.
Consultant Seong-jung urged the South Korean
authorities, particularly the Ministry of Science and Expertise, to conduct
complete safety exams and bolster defenses in opposition to cyberattacks
concentrating on digital asset exchanges.
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 Development and International Enlargement
Upbit Singapore acquired an in-principal approval for a Main
Fee Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto change
to offer regulated digital cost token providers beneath Singapore’s Funds
Providers Act whereas awaiting full approval.
Upbit Singapore, operational since 2018, beforehand
acquired 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 grow to be an interesting vacation spot for
crypto companies in search of to increase throughout the Southeast Asian market resulting from 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 yr.
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 yr. In response to an announcement revealed by
the corporate, this downturn was attributed to varied components, primarily the
world financial recession and decreased 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 circumstances, Dunamu is
pivoting in direction of popularizing blockchain providers as a possible
means to beat the bearish market sentiment. The corporate goals to leverage
its expertise to revitalize the blockchain ecosystem.
Hold Studying
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.
Dunamu offered the alarming figures on Upbit to South Korean Consultant Park Seong-jung. The change
has bolstered safety measures, notably rising chilly pockets holdings to
70%. Moreover, it has enhanced the protocols for funds saved in scorching wallets, that are extra
weak to breaches.
Consultant Seong-jung urged the South Korean
authorities, particularly the Ministry of Science and Expertise, to conduct
complete safety exams and bolster defenses in opposition to cyberattacks
concentrating on digital asset exchanges.
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 Development and International Enlargement
Upbit Singapore acquired an in-principal approval for a Main
Fee Establishment (MPI) license from the Financial Authority of Singapore in October. This authorization allowed the crypto change
to offer regulated digital cost token providers beneath Singapore’s Funds
Providers Act whereas awaiting full approval.
Upbit Singapore, operational since 2018, beforehand
acquired 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 grow to be an interesting vacation spot for
crypto companies in search of to increase throughout the Southeast Asian market resulting from clear
crypto laws.
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