Bithumb sets 2028 IPO target in third timetable reset
South Korea introduced new rules in March 2026 capping major shareholders of crypto exchanges at 20%, with a transition period. Bithumb, the country’s largest exchange, confirmed in August 2026 that it had pushed its IPO target back to 2028, marking the third timeline change in three years. In February, a system error wrongly credited 620,000 BTC (about $43 billion at the time), briefly sending BTC down 17% on its won market; the exchange has recovered 99.7% of the coins, with about 125 BTC still unresolved. The incident and tighter oversight have underscored uncertainty around the operations and listing paths of South Korean exchanges.