South Korea Regulator Fines Bithumb for $55k

According to the investigation, hackers twice abducted personal data of Bithumb users
13 December 2017   695

The Communications Commission of South Korea (KCC) fined Bithumb's largest trading platform for 60 million won ($ 55,000) "for allegedly leaking the private data of its users”. This is reported by the Yonhap.

According to the commission, hackers twice abducted personal data of Bithumb users: in April, data leakage of 31,506 users occurred, and in July - 3,434 users of the exchange. 

We took into consideration the fact that the vulnerability occurred due to failure to comply with the safeguards clause and was directly or indirectly exploited by the hacker. Personal information was leaked and monetary damage occurred. The punitive action was taken as the operator did not comply with protective steps, making it vulnerable to hacks and causing leaks of personal data and financial damage.
 

KCC Representative 

It is also worth noting that there is no additional information on this situation at official Bithumb website or Twitter. 

Bithumb to Launch Payment Service is Qoo10

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia
08 November 2018   247

Bithumb reported that it had entered into an agreement with Qoo10 to create a service for paying for goods and services using cryptocurrencies. This is reported by Cointelegraph.

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia. The press release also says that within the framework of cooperation, the Bithumb payment service will be expanded for use around the world.

The partnership with Qoo10 has made it possible for us to utilize the Bithumb cache beyond our home country and abroad for real life. We will continue to improve our services to improve customer convenience.
 

Bithumb

The companies signed a corresponding agreement back in August, after which they started working on settlement services as part of the Qoo10 service and the Bithumb Cache system. The Bithumb settlement service was introduced in the spring and allows exchange customers to exchange crypto assets and use them for payments.

Thanks to a new partnership, consumers will be able to buy Qoo10 products using the Bithumb Cache service.