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S.Korea crypto exchange Bithumb sold for $354 mln to plastic surgeon-led group

SEOUL, Oct 12 (Reuters) – South Korean major cryptocurrency exchange Bithumb was sold for about $354 million to a consortium led by a plastic surgeon, a spokesman for the bourse said on Friday.

BK Global Consortium, led by Kim Byung-gun, plastic surgeon and blockchain platform investor, signed a deal on Thursday to buy 50 percent plus one share in the exchange’s biggest stakeholder, BTC Holdings, for about 400 billion won ($354.09 million), the spokesman said.

The deal makes BK Global Consortium the largest stakeholder of Bithumb.

Kim is head of Singapore-based BK Medical Group that runs plastic and aesthetic clinics in South Korea and Singapore, and also a start-up investor in the blockchain industry.

Hackers breached into Bithumb, one of the country’s biggest virtual currency exchange, earlier this year and stole about $32 million, sparking concerns over security risks of trading the digital asset. ($1 = 1,129.6700 won) (Reporting by Yuna Park; writing by Ju-min Park; Editing by Subhranshu Sahu)

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