Bithumb Seeks $201M in Lost Crypto; Upbit Dominates Korean Youth

South Korean crypto exchange Bithumb has launched its third annual dormant asset recovery campaign, targeting $201 million in unclaimed crypto assets held by 2.57 million inactive users according to reports. The campaign focuses on accounts with no login or trading activity for over a year. Bithumb noted that some dormant assets have grown by more than 61,000% since they were last accessed.

The largest dormant holding identified in the campaign is worth $2.8 million, with the longest period of inactivity stretching to nearly 12 years. This highlights a broader trend of early retail investors entering the crypto market during bull cycles and subsequently disengaging according to market analysis.

Bithumb remains South Korea's second-largest crypto exchange, with 2.42 million monthly active users as of July 2025. Upbit, the market leader, reported 4.53 million monthly active users during the same period.

Why Did This Happen?

Dormant assets on Bithumb have declined 34% year-over-year, following similar campaigns in 2023 and 2024. In 2024, the exchange reported a surge in dormant assets due to the market rally. In 2025, however, market fluctuations contributed to the decline.

The campaign aims to help users rediscover and reclaim forgotten assets. Bithumb has previously reported success in similar efforts, with 36,000 users reclaiming $50 million in 2024.

How Did Markets React?

Upbit continues to dominate the South Korean crypto market, with 5.48 million users in their 20s and 30s—representing 44% of South Korea's population in that age group. The platform added nearly 1.1 million new users in 2025, significantly outpacing the industry average.

Female participation is increasing, with women representing 34.6% of Upbit's total user base and 43.1% of new sign-ups in 2025. This trend suggests a narrowing gender gap in crypto adoption.

User demographics also show a growing presence of older investors, with 20% of new registrations in 2025 coming from users in their 50s. This indicates the market is expanding beyond its traditional demographic.

What Are Analysts Watching Next?

Bithumb's campaign and market trends point to a maturing crypto landscape in South Korea. Dormant assets represent untapped liquidity that could re-enter markets if reclaimed according to analysts. Analysts are also watching how exchanges communicate with inactive users and ensure the security of long-forgotten funds according to industry reports.

Upbit's market leadership is underscored by its dominance in trading volume. On its busiest trading day in 2025, Upbit recorded $14.4 billion in trading volume—more than triple the industry average according to market data.

The rise of XRP as the most traded asset on Upbit reflects broader industry trends. Ripple's asset remains a key player in South Korean markets, aligning with government survey data showing XRP as the second-largest asset by domestic market capitalization after Bitcoin according to official statistics.