South Korean authorities fine Bithumb $136K over sharing user information overseas
Summary
South Korean crypto exchange Bithumb was fined about $136,000 by the Personal Information Protection Commission for illegally transferring user data overseas. The regulator said Bithumb shared personal information with overseas virtual asset exchanges without obtaining separate user consent, including during order book sharing and cross-exchange transfers. The case involved sharing USDT order books with BingX and user data with 13 foreign exchanges, despite consent tied to Stellar. The commission said anti-money-laundering needs do not override strict privacy consent and transfer procedures under Korea’s protection law.
