Bithumb review: score, licensing and risks
63/100SCORE · CMixed record
Grade C, fair
Bithumb is South Korea's second largest exchange by volume. It suffered a series of breaches between 2017 and 2019 totalling well over 100 million dollars, covering the losses each time. Access is effectively limited to Korean residents.
The facts
- FOUNDED
- 2014
- HEADQUARTERS
- Seoul, South Korea
- CUSTODY
- Custodial.
- MiCA / EEA
- Not applicable. Korea focused.
- US ACCESS
- No.
- PROOF OF RESERVES
- No standard proof of reserves publication.
- FEES
- Around 0.04 to 0.25 percent.
- ASSETS
- 300 plus
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Second largest Korean venue with real KRW volume
- Covered its losses across multiple incidents
✗ Weaknesses
- Repeated breaches between 2017 and 2019
- Korea focused with limited foreign access
- Limited transparency
Incident history
2017 to 2019
A series of breaches totalling well over 100 million dollars across several incidents. Losses were covered and the exchange continued operating.
Our read
A large regional venue with a repeated breach history in its earlier years. Security has been quieter since, and the record still counts.
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RISK WARNING
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