South Korea’s Financial Intelligence Unit has sent the cryptocurrency exchange a notice of a six-month, partial suspension for violating anti-money laundering obligations, according to a local report published Monday.
The company’s CEO faces disciplinary action, also according to the report. Bithumb is one of South Korea’s largest cryptocurrency exchanges.
The move comes almost exactly a month after South Korea’s Financial Supervisory Service launched a full-scale investigation into Bithumb after the exchange mistakenly sent 620,000 BTC to hundreds of users, exposing weaknesses in its internal controls and risk management.
Bithumb’s “dealings with unreported overseas virtual asset operators and its neglect of customer due diligence” has run afoul of local regulations, Monday’s report said.
The Financial Intelligence Unit’s temporary sanctions against Bithumb restrict transfers for new users only. “The financial authorities plan to convene a sanctions review committee this month to decide on the final level of sanctions against Bithumb,” the report said.
“This measure is not a final sanction, but rather a preliminary notice, and there may be some adjustments during the sanctions review,” a Bithumb spokesperson said, according to the report.
In 2025, two other South Korean exchanges, Upbit and Korbit, also faced fines.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
