Bithumb Fined $24.6 Million by South Korean Authorities Over AML Lapses

Seoul-based cryptocurrency exchange Bithumb has been penalized by the South Korean government for violating anti-money laundering (AML) regulations.

The Financial Intelligence Unit (FIU), responsible for enforcing AML laws in the country, discovered over 6.65 million infractions on Bithumb's part during an inspection period spanning from 2024 to 2025.

These violations included failing to conduct required customer identity verification and improperly blocking transactions that should have been restricted.

The partial suspension, which targets services for newly registered users, does not affect existing customers who can continue trading on the platform.