Bithumb

Bithumb is one of the oldest and best-known cryptocurrency exchanges in South Korea, and over its years of operation it has built a significant position in the country's market. Relying on international security standards, partnerships with reputable financial institutions and compliance with regulatory requirements, the exchange has sought to provide a safe and trustworthy environment for traders.

One of Bithumb's most important strengths is its ISMS-P (Information Security and Personal Information Protection Management System) certification, which has been renewed through 2028. In addition, the exchange has obtained the international standards ISO/IEC 27001 for information security management and ISO/IEC 27701 for privacy information management. These certifications show that the security processes and user data management at the company are designed and assessed according to globally recognized standards.

On the other hand, Bithumb's official partnership with KB Kookmin Bank, one of South Korea's largest banks, for user identity verification and transaction management has strengthened the exchange's credibility in terms of compliance with financial regulations. In 2025, the platform also ranked first in the Korean Customer Satisfaction Index (KCSI) and was named the most downloaded financial app in the country, reflecting the trust a significant share of domestic users place in its services.

Overall, given its track record, adherence to security standards, partnerships with reputable financial institutions and international certifications, Bithumb can be considered one of the reputable exchanges in South Korea's cryptocurrency market.

 

Has Bithumb exchange ever been hacked or involved in fraud?

Contrary to popular belief, Bithumb has experienced several major security incidents in the past. Between 2017 and 2019, the exchange was targeted by cyberattacks three times, with total losses estimated at more than $100 million.

Bithumb's most significant security incidents include the following:

By breaching the personal computer of one of the exchange's employees, attackers gained access to the data of more than 31,000 user accounts and made many of them victims of phishing attacks.  

June 2018 hack: In this attack, hackers breached the exchange's servers and stole more than $30 million in cryptocurrency from its hot wallets. Bithumb announced that it had compensated all user losses from its own assets.

March 2019 hack: About $19 million in digital assets was stolen. Subsequent investigations showed that the incident was likely carried out by insiders or former employees, without breaking through external security layers, by abusing access to private keys.

In addition to cyberattacks, Bithumb also faced a widespread system error in February 2026. Due to a flaw in its rewards system, about 620,000 Bitcoin worth more than $40 billion were mistakenly credited to some users' accounts. The exchange immediately halted withdrawals and announced that it had managed to recover 99.7% of these assets.

Despite this history, Bithumb has made significant investments in security infrastructure in recent years and has sought to raise its level of security by obtaining various certifications, using fraud detection systems (FDS) and working with South Korean financial institutions. Nevertheless, these incidents show that Bithumb, like many of the world's major exchanges, has faced serious security challenges in the past, and users should not rely solely on the exchange's security measures but also use methods such as enabling two-factor authentication (2FA) and keeping the bulk of their assets in a personal wallet.