Bithumb Penalized by South Korea for Unauthorized User Data Sharing
South Korea has imposed a fine of approximately $136,000 on Bithumb for breaching personal information protection regulations by sharing user data abroad without consent.
Editorial Staff
1 min read
Updated 6 days ago
The South Korean government has ordered Bithumb, a cryptocurrency exchange, to pay a fine of around $136,000. This penalty arises from violations of personal information protection laws.
Authorities found that Bithumb shared user data with overseas entities without obtaining the necessary consent from its users.
This decision underscores the importance of adhering to data protection regulations, particularly in the rapidly evolving cryptocurrency sector.