Bithumb Fined $136,000 by South Korean Regulator for Sending User Data to BingX Without Consent

South Korean crypto exchange Bithumb has been ordered to pay 210 million won, roughly $136,000, for sharing users’ personal information with overseas platforms without obtaining proper consent.

South Korea’s Personal Information Protection Commission announced Thursday that the violation occurred when Bithumb shared its Tether USDT market order books with overseas platforms between September and November 2025. While Bithumb had obtained user consent to transfer data to Stellar exchange, the information was actually sent to a platform operated by BingX a different entity entirely.

Two Separate Violations Were Found

The PIPC identified a second breach alongside the order book issue. Bithumb also failed to secure full user consent when it shared names, wallet addresses and dates of birth while facilitating transfers with 13 other overseas exchanges.

Regulators ordered Bithumb to fix its protocols for transmitting user information abroad in addition to paying the fine.

“The cross border transfer of personal information is a matter closely related to the data subject’s right to self-determination, and therefore requires meticulous compliance with the requirements and procedures stipulated in the Personal Information Protection Act,” the PIPC said in its announcement.

New Guidelines for Blockchain Firms Also Released

Alongside the Bithumb penalty, the PIPC published a new information protection guideline specifically designed for blockchain companies. The guidance accounts for the transparent, distributed and immutable nature of the technology and makes clear that personally identifiable information such as names and social security numbers should not be recorded onchain.