South Korea has ordered crypto exchange Bithumb to pay roughly $136,000 in penalties for violating personal information protection rules. The exchange shared user data overseas without getting proper consent from users first.
The fine might seem modest for a major exchange, but the reputational damage matters more. Bithumb has been working to rebuild trust after a series of security incidents and regulatory run-ins.
South Korean regulators have been increasingly aggressive about data privacy enforcement, especially for financial platforms handling sensitive personal information. The message is clear: if you’re going to operate in Korea, you keep Korean user data in Korea — or at least get explicit permission before it leaves the country.
