South Korean Regulator Fines Bithumb for Data Breach

Bithumb, a prominent cryptocurrency exchange in South Korea, has been fined 210 million won (around $136,000) by the Personal Information Protection Commission (PIPC) for mishandling user data. The fine stems from the exchange's unauthorized transfer of user information to foreign entities without the necessary consent.

The PIPC discovered that between September and November 2025, Bithumb shared data related to its trading pairs with USDT. Although the exchange had received permission from clients to share their data with the Stellar platform, it instead sent this information to BingX, a different platform.

In addition to this violation, the regulator found that Bithumb had also shared users' personal information—such as names, birth dates, and wallet addresses—with 13 other overseas exchanges without proper consent.

The PIPC has mandated that Bithumb improve its data transfer processes and highlighted the importance of adhering to legal standards for cross-border data transfers to protect users' rights.

In conjunction with this ruling, the PIPC has issued new guidelines for blockchain companies, emphasizing the need to avoid including identifiable on-chain data, considering the transparency and permanence of blockchain technology.

This action follows a previous significant fine of 624.6 billion won imposed on Coupang, a major tech company, for a massive data breach earlier in June.