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The value of South Korea's cryptocurrency-linked stocks plummeted on the first trading day after FTX, one of the world's largest crypto exchanges, filed for bankruptcy.
Shares of game developer Com2uS, which listed its C2X token on the exchange in March, suffered a 14.74 percent decline from the previous trading day, dipping to a new eight-year low of 61,900 won.
Vidente, the single-largest shareholder of Bithumb Holdings, was also hit hard in the aftermath of the FTX collapse with its stock price dropping by 7.22 percent.
Shares of Woori Technology Investment, which holds an 8 percent stake in Dunamu, the operator of Upbit, Korea's largest crypto exchange, declined by 2.08 percent.
According to Lee Mi-sun, Bithumb's research center chief, the breakdown of FTX will cast a longer-standing impact on the market, as a series of unstable signs are detected.
Market analysts here and abroad expected the crypto market to remain depressed for the time being.
