Bithumb fined $151,000 for transferring user data overseas without consent

CoinFeed June 25 news, according to NoCut News, South Korean crypto exchange Bithumb was fined 210 million won (approximately $151,000) for transferring users' personal data overseas without appropriate consent. According to an investigation by the Personal Information Protection Commission, Bithumb shared its Tether (USDT) market order book with an overseas exchange from September to November last year. During this period, the exchange obtained user consent to transfer personal data to a platform identified as Stellar Exchange, but the investigation found that member numbers and order information were actually sent to a system operated by another exchange. In addition, when processing users' virtual asset transfers, Bithumb provided the sender and receiver personal information, including names, wallet addresses, and dates of birth, to 13 overseas exchanges for anti-money laundering purposes.