The regulator also ordered the exchange to improve its cross-border data transfer procedures and released new privacy guidelines advising blockchain firms not to store personally identifiable information directly on-chain.
Bithumb Hit With Fine
South Korea's Personal Information Protection Commission (PIPC) ordered cryptocurrency exchange Bithumb to pay a fine of 210 million Korean won (approximately $136,000) after determining that the company improperly shared users' personal information with overseas platforms without obtaining the required consent.
Press release from South Korea's Personal Information Protection Commission
According to the regulator, the violations occurred between September and November of 2025 when Bithumb shared user information while providing Tether (USDT) market order book services. Although users consented to the transfer of their data to the Stellar exchange, the information was instead transmitted to a platform operated by BingX.
The PIPC also found that Bithumb failed to secure adequate user consent when sharing personal information, including names, wallet addresses, and dates of birth, while facilitating transfers with 13 overseas cryptocurrency exchanges.
In addition to the financial penalty, the regulator ordered Bithumb to strengthen its procedures for transmitting personal information across borders to ensure compliance with South Korea's Personal Information Protection Act.
The commission explained that cross-border transfers of personal information are closely tied to users' rights to control their own data and therefore require strict adherence to the legal requirements governing consent and data protection.
Alongside the enforcement action, the PIPC released new privacy guidelines that are specifically designed for blockchain businesses. The guidance recognizes the unique characteristics of blockchain technology, including its transparency, decentralization, and immutability, and advises companies not to store personally identifiable information, like names or social security numbers, directly on-chain.
