Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, reported first-half consolidated revenue of about 408.1 billion won, down 49.1% from a year earlier, while operating profit fell 79.7% to roughly 111.5 billion won and net profit declined 74.1% to around 108.4 billion won. In the second quarter, revenue dropped 39.3% year on year to about 173.5 billion won, operating profit fell 84.6% to approximately 23.5 billion won, and net profit declined 43.9% to roughly 39 billion won. Revenue from Dunamu's trading platform, which is driven mainly by transaction fees on Upbit, fell 49.8% in the first half to about 395.5 billion won, while other businesses including RMS and Luniverse posted revenue of roughly 12.6 billion won, down 12.9%. Dunamu said reduced investor activity and tighter liquidity conditions across global virtual asset markets weighed on performance. The company also said it is complying with South Korea's Virtual Asset User Protection Act and continues to update internal systems and investor-protection measures. The results add to a run of recent earnings reports from crypto-focused trading platforms showing weaker trading activity.