South Korean crypto exchange says the measure targets impersonation account openings, account rentals and crypto investment fraud, with login and transfer limits triggered when ownership cannot be confirmed.
Bithumb plans to introduce video-call identity verification for elderly users as the South Korean crypto exchange steps up safeguards against fraud. The company said the process is designed to curb impersonation account openings, account rentals and crypto investment fraud. If the verification indicates an account is not being used by its owner, login access will be restricted immediately. Users who miss up to four contact attempts will face temporary limits on withdrawals and asset transfers until their identity is confirmed.