South Korean Authority Fines Cryptocurrency Exchange Operator

[kreslik.news]

On Tuesday, South Korean communication watchdog, the Korea Communications Commission (KCC), imposed a fine on one of the country’s cryptocurrency exchange operators for allegedly leaking the private data of its users.

As the first punitive action, the commission slapped a fine of 60 million won ($54,970) on BTC Korea.com, which is an operator of the country’s largest cryptocurrency exchange, Bithumb. According to KCC, the operator allegedly showed negligence in protecting private data of the platform users.

The exchange has been attacked twice by hackers who stole the private data of users, and according to the KCC, the platform stored all the information ... (read more)