Golden Finance reported that according to the announcement on Hanbitco's website, it will stop operating on the 16th. Hanbitco said that despite the support of many customers, we will terminate the exchange service at 2 pm on May 16, 2024. Accordingly, Hanbitco has terminated member registration and virtual asset deposits from the 9th, and terminated trading support for listed virtual assets on the 16th. Virtual assets can be withdrawn before July 16. With the closure of Hanbitco, the number of money market exchanges that actually continue to operate in South Korea has been reduced to less than 5. Since the end of won-denominated transactions in 2021, the profitability of crypto exchanges has continued to deteriorate, making operations difficult. From the end of last year to this year, Cashierest, Coinbit, Huobi Korea, ProBit, and OKBit have closed down one after another.