Bithumb, South Korea’s second-largest cryptocurrency exchange, is now targeting a public listing after 2028, with a preliminary review process set to begin in 2027. The exchange originally planned a listing as early as 2025 or 2026 but has repeatedly delayed due to weak accounting protocols and internal controls. In February 2026, a major system error resulted in erroneous transfers exceeding $40 billion, triggering heightened regulatory scrutiny and an investigation for anti-money laundering violations. Brokerage firm Kiwoom Securities is exploring acquiring a stake in Bithumb through a private placement of new shares. The advisory agreement with Samjong KPMG running through 2027 provides a concrete marker for measuring preparation progress ahead of the 2028 target.
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