Since March, Bithumb has been operating a proactive collaboration system that connects information on malicious app installers provided by the police's Integrated Response Team with member data to register users as 'at risk.' This system has enabled Bithumb to notify the police in real-time about 66 suspicious transactions, preventing approximately 800 million won (about $600,000) in phishing losses.
One notable case involved a customer who attempted to buy and withdraw virtual assets worth 150 million won (about $112,000) after being deceived by criminals impersonating institutions. Bithumb collaborated with the police to block the transaction. Additionally, the platform detected another suspicious transaction where a user was misled into opening a new account and attempting to transfer 88.9 million won (about $66,000), thus preventing further losses.
Bithumb plans to strengthen its data-sharing system with the police regarding phishing crimes while enhancing its security measures and investor protection activities.
Currently, Bithumb has implemented a security system that automatically restricts transactions if a remote control app is detected during app operation. The company is also developing a system that automatically issues warnings and limits service use upon detecting malicious apps, while maintaining customer assets at a higher ratio than legal standards to combat fraud effectively.
Byun Seung-moo, Bithumb's compliance officer, stated, "Bithumb has continuously enhanced its security system to detect phishing site lure activities and suspicious transactions early, ensuring a safe virtual asset trading environment. In the future, we plan to build a faster and more sophisticated response system through collaboration with the National Police Agency, continuously strengthening our user protection capabilities."
* This article has been translated by AI.
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