South Korean cryptocurrency exchanges are searching for buyers, but few are willing to take over the exchanges.
This situation is a significant U-turn from September in 2017 to March last year when big companies were seeking to take over any of the exchanges.
At that time, the exchanges had demanded prices about ten times as large as the appraised value.
However, not a single buyer emerged to take over any of the exchanges since the middle of last year when the cryptocurrency prices began to nosedive.
The government’s blacklisting and a series of hacking incidents also kept off potential buyers.
An executive of one of the major exchanges said, “In early 2017, four companies offered to take over the exchange, and our bidding price ran as high as 200 billion won.”
Korea’s largest game company Nexen took over Korbit at 91.25 billion won in September 2017.
The BK consortium in Singapore also took over Bithumb at around 400 billion won for 50 percent of the
