Bithumb fined $136K by South Korea for unauthorized overseas data sharing
In brief
- Bithumb fined $136,000 by South Korea's Personal Information Protection Commission for unauthorized overseas data transfers
- Exchange shared user information with 13 overseas exchanges without obtaining separate consent
- Bithumb shared Tether order books with BingX despite consent only for Stellar data sharing
Unauthorized Data Sharing
Bithumb transferred personal information overseas without the separate consent of data subjects during order book sharing and virtual asset transfers with overseas exchanges, according to the commission's findings. The violations were detailed in a Thursday notice from the regulator.
One specific case illustrates the scope of the breach. Bithumb shared its Tether (USDT) order books with BingX between September and November 2025 despite having consent only to share data with Stellar. This mismatch between authorized and actual data recipients represents a direct violation of South Korea's personal information protection rules.
Pattern of Regulatory Pressure
One of the largest crypto exchanges in South Korea, Bithumb has faced mounting scrutiny from authorities in recent months. The country's financial watchdog imposed a six-month suspension of the exchange's activities in March over alleged violations of the Financial Information Act, though a court reversed the decision in April.
Additional pressure mounted when police raided Bithumb's offices as part of an investigation into alleged nepotism involving South Korean lawmaker Kim Byung-gi. The cumulative effect of these enforcement actions signals intensifying regulatory oversight of the exchange's operations and compliance practices.
