A 2025 audit disclosure filed with South Korea’s Fair Trade Commission shows that Bumo Sarang recorded roughly 49.3B won, or $32.7M, in unrealized losses after investing customer-linked funds in a leveraged crypto-related ETF.
The case affects customers of the funeral mutual aid firm because these companies manage prepaid service funds over long periods. Bumo Sarang invested about 59.5B won, or nearly $40M, in the T-REX 2X Long BMNR Daily Target ETF, a product designed to deliver twice the daily return of Bitmine, an Ethereum-linked treasury company.
The next point to watch is whether regulators increase scrutiny over how funeral mutual aid firms manage prepaid customer reserves. For now, the loss remains unrealized on paper, but the disclosure raises sharper questions about risk controls, liquidity buffers and customer refund capacity in the sector.
Source: South Korea Fair Trade Commission.
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