Bithumb launched a new anti-phishing campaign on May 14 as AI-powered crypto scams spread across South Korea’s digital asset market. The exchange released a “Voice Phishing Complete Guide” after fraud cases involving deepfake voices and fake video calls increased among crypto investors.
As per a local report, the company warned that scammers now use artificial intelligence to imitate family members, exchange employees, and financial officials during live calls. In a recent Hong Kong case, criminals used an AI-generated video meeting to steal nearly 40 billion won from a victim. Following the rise in such attacks, Bithumb urged users not to share.
Bithumb expands security push
Bithumb said attackers are increasingly targeting crypto users through fake customer support calls and phishing links. The exchange warned that some scammers are pressuring victims to install remote access apps or send funds to unfamiliar wallet addresses.
It also advised users to avoid clicking suspicious links from unverified sources, noting that phishing tactics have become more convincing as attackers use AI tools.
To reduce risk, Bithumb encouraged users to enable stronger security settings, including two-factor authentication and overseas IP blocking. It also recommended telecom-based AI phishing detection services for added protection on mobile devices.
A company official said AI-enabled scams are becoming more advanced and harder to detect. The firm added that it will continue running awareness campaigns aimed at helping users trade more safely.
Exchange faces pressure beyond security risks
The campaign comes at a challenging time for Bithumb and South Korea’s crypto sector. Earlier this year, a system error at the exchange reportedly credited hundreds of users with 620,000 Bitcoin units instead of 620k Korean won. Some users quickly sold the funds, adding stress to the platform’s liquidity and trading systems.
At the same time, regulators in South Korea are tightening oversight of the industry. The Seoul Administrative Court recently suspended enforcement of a six-month business ban on Bithumb, while the Korea Financial Intelligence Unit had earlier accused the exchange of regulatory violations and imposed a 36.8 billion won fine.
Separately, South Korea has introduced new rules expanding oversight of cross-border crypto transfers. Under the updated framework, firms handling overseas digital asset movements must register with the Ministry of Economy and Finance before operating. The changes add stricter reporting and compliance requirements for exchanges and custody providers.
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