South Korea: 7,284 forced liquidations on crypto lending in 8 months, 96% at Bithumb
- —Total 7,284 liquidations: Bithumb 7,019, Upbit 233, DigitalX 27, Coinone 5
- —August liquidation rates: Coinone and DigitalX 4.94%, Bithumb 3.67%, Upbit 1.68%
- —Bithumb saw 2,309 of 27,890 loans liquidated in January, a rate of 8.28%
- —Annualized lending fees: Upbit 18.20%, Bithumb and Coinone 18.25%, DigitalX 18.72%
Why it matters: The figures could intensify scrutiny of crypto lending rules in South Korea and pressure Bithumb's reputation.
Source: Blockmedia