Bithumb fined $136K for unauthorized data transfers

Bithumb was fined $136,000 by South Korea’s privacy regulator for sharing user data with foreign exchanges without proper consent, leading to mandatory changes in its data transfer protocols.

South Korea’s Personal Information Protection Commission (PIPC) has fined cryptocurrency exchange Bithumb 210 million won (approximately $136,000) for unauthorized overseas transfers of user data. The investigation revealed that Bithumb shared its Tether USDT market order book and personal user information—including names, wallet addresses, and dates of birth—with 13 foreign exchanges between September and November 2025, without obtaining proper user consent. Although Bithumb had notified customers that their data would be sent to the Stellar exchange, the information was actually shared with BingX and other platforms. The PIPC ordered Bithumb to overhaul its cross-border data transfer protocols, emphasizing that such transfers require clear notice and user consent under the Personal Information Protection Act. Additionally, the commission released new blockchain privacy guidelines, urging firms to minimize identifiable on-chain data. This action adds to Bithumb’s ongoing regulatory challenges, including previous fines for anti-money laundering violations.