South Korea’s seventh-largest pension relief company lost approximately $32.73 million investing in Ethereum leveraged ETFs.

According to Korea Economic Daily, Bumo Sarang, South Korea’s seventh-largest pension relief company, invested 59.5 billion KRW of its operating funds last year in Bitmine, an Ethereum-themed stock’s daily double-leveraged ETF, resulting in a loss of 49.3 billion KRW (approximately USD 32.73 million). A comprehensive review of the 2025 audit reports from 75 pension relief companies revealed that 42.7% of these firms hold total assets lower than the prepaid funds owed to their clients—meaning they would be unable to fully refund all clients if all terminated their contracts simultaneously.