South Korean Regulator Issues Urgent Warning to Bithumb Exchange Users Over Sophisticated Compensation Scam
South Korea's Financial Supervisory Service (FSS) has issued an urgent alert to customers of the Bithumb cryptocurrency exchange regarding fraudulent URLs circulating in fake compensation messages. The regulator emphasized that these links are malicious, designed to install malware and steal personal data, with a particular focus on crypto holdings.
The warning follows reports of sophisticated smishing attacks that impersonate Bithumb's compensation program for its recent bitcoin transfer error. Victims are lured into downloading malicious applications that grant scammers access to their wallets and exchange accounts.
The FSS advised affected users to immediately enable airplane mode and perform a factory reset on any compromised devices. Authorities are coordinating with Bithumb to mitigate damages, though the exchange has yet to announce formal compensation timelines.
