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Upbit and Bithumb to Delist DRIFT
According to an official announcement, Upbit and Bithumb have stated that member companies of the Korea Digital Asset Exchange Association (DAXA) plan to terminate trading support for DRIFT. The reason for terminating DRIFT trading is that the foundation’s explanatory materials alone are insufficient to alleviate concerns that led to the project’s inclusion on the “Trading Caution List.” Furthermore, after a comprehensive review of all aspects related to the project’s progress, it was determined that the project fails to meet the criteria required to maintain trading support. DRIFT trading (buy/sell) will end on June 1, 2026, at 16:00 KST. Support for DRIFT withdrawals will be terminated on July 1, 2026, at 16:00 KST.
South Korea’s Personal Information Protection Commission launches investigations into Upbit and Bithumb, focusing on cross-border transfers of personal information via order book sharing.
According to SBS Biz, South Korea’s Personal Information Protection Commission has completed on-site inspections of Upbit and Bithumb and is now reviewing whether the two exchanges violated regulations by transmitting users’ personal information when sharing order books with overseas platforms. Results are expected to be announced in the second half of the year. The core of the dispute lies in whether personally identifiable information was transmitted alongside order books during the sharing process. South Korea’s Personal Information Protection Act stipulates that cross-border transfers of personal information require prior user consent; violations may trigger sanctions. Currently, Upbit shares its order book with Upbit APAC and Tether’s markets, while Bithumb previously shared its order book with the Australian exchange Stellar. Meanwhile, Bithumb is also engaged in a legal battle with financial regulators over alleged violations of the Act on Special Cases Concerning the Settlement of Financial Transactions. A court ruling on the validity of certain business suspension orders against Bithumb is imminent.
South Korean court halts financial regulator’s partial business suspension penalty against Bithumb
According to Yonhap News, the Seoul Administrative Court’s Administrative Division No. 2 ruled on April 30 to accept Bithumb’s application to suspend enforcement of a partial business suspension order issued against it by South Korea’s Financial Intelligence Unit (FIU). The effect of this partial suspension order will thus be stayed until the court issues its final judgment in this case. Previously, in March this year, the FIU imposed a severe penalty on Bithumb—six months of partial business suspension and a fine of KRW 36.8 billion—citing 6.65 million violations by Bithumb of obligations stipulated under South Korea’s Act on Reporting and Using Specified Financial Transaction Information (“Special Financial Information Act”). The suspended operations specifically involve external virtual asset transfers (i.e., deposits and withdrawals) for new customers. This marks the harshest penalty ever levied against a Korean won-based cryptocurrency exchange operating in South Korea. The penalty was originally scheduled to take effect on March 27. However, Bithumb filed an administrative lawsuit on March 23 and simultaneously applied for a stay of enforcement, thereby temporarily halting the penalty’s effect. The court’s formal acceptance of the application means that the sanctions will remain suspended until the final ruling is rendered in this case.
Circle CEO: Has Expanded Collaboration with Dunamu and Bithumb to Advance Digital Asset and Stablecoin Adoption in Korea
Circle CEO Jeremy Allaire stated that Circle has expanded its collaboration with Dunamu—the operator of Upbit—to support the compliant adoption of digital assets, and broadened its partnership with Bithumb to strengthen stablecoin infrastructure and raise market awareness of stablecoins. Allaire noted that South Korea is rapidly advancing regulation for stablecoins and digital assets, and that local cryptocurrency adoption rates are high. During his time in Seoul, he also met with representatives from KakaoGroup, Coinone, Hashed, Shinhan Bank, KB Financial Group, and Woori Bank.
South Korea’s Central Bank Recommends Introducing a Cryptocurrency Circuit Breaker Mechanism in Response to the Bithumb Mispayment Incident
According to News1, following the erroneous payment incident at Bithumb, the Bank of Korea stated that it is necessary to prudently consider introducing a “circuit breaker” mechanism—similar to those in traditional financial markets—into the cryptocurrency market to address extreme market volatility and systemic risks. The Bank of Korea noted that as the cryptocurrency market expands and associated risks increase, existing regulatory measures are insufficient to fully cover potential issues; therefore, it is essential to study the introduction of an automated trading suspension mechanism to enhance market stability and investor protection. Previously, Bithumb triggered market attention after a system failure led to abnormal payments affecting some users’ assets.
Aethir Prevents Cross-Chain Bridge Vulnerability Attack and Promises Compensation
Decentralized GPU cloud computing infrastructure platform Aethir confirmed that its Ethereum-related bridge contract was attacked. The team promptly disconnected the affected contract and, in collaboration with major exchanges, blacklisted the hacker’s wallet, limiting losses to under $90,000. Earlier, blockchain security firm PeckShield estimated losses at $400,000. The attacker exploited Aethir’s cross-chain smart contract, AethirOFTAdapter, to transfer stolen funds from BNB Chain to Tron. Aethir stated that its Ethereum mainnet ATH token supply remains unaffected. It plans to release a detailed compensation plan and incident analysis next week and will collaborate with exchanges including Binance, Upbit, and Bithumb to freeze funds. Web3 security platform ZeroShadow is assisting with the investigation. In 2025, Aethir achieved $127.8 million in revenue and deployed over 440,000 GPU containers globally.
Upbit and Bithumb to Delist DRIFT
According to an official announcement, Upbit and Bithumb have stated that member companies of the Korea Digital Asset Exchange Association (DAXA) plan to terminate trading support for DRIFT. The reason for terminating DRIFT trading is that the foundation’s explanatory materials alone are insufficient to alleviate concerns that led to the project’s inclusion on the “Trading Caution List.” Furthermore, after a comprehensive review of all aspects related to the project’s progress, it was determined that the project fails to meet the criteria required to maintain trading support. DRIFT trading (buy/sell) will end on June 1, 2026, at 16:00 KST. Support for DRIFT withdrawals will be terminated on July 1, 2026, at 16:00 KST.
Bithumb to List MEGA/KRW Trading Pair
According to the official announcement, Bithumb will list the MEGA/KRW trading pair.
Korea's National Tax Service launches preparatory work for virtual asset taxation, targeting implementation in January of next year
the Korea National Tax Service has initiated preparatory work for virtual asset taxation, with the goal of formal implementation in January 2027 and preparation for comprehensive income tax filings in May 2028. According to the current Income Tax Act, income from the transfer and leasing of virtual assets will be classified as "other income," subject to a 22% tax rate on the portion exceeding an annual gain of 2.5 million Korean won, which is expected to affect approximately 13.26 million individuals.The Korea National Tax Service plans to begin collecting data from exchanges such as Upbit, Bithumb, Coinone, Korbit, and Gopax starting next year, to improve the taxation infrastructure and promote the launch of a comprehensive virtual asset analysis system within the year. However, controversies surrounding taxation standards and the risk of capital flight persist. (Edaily)
Bithumb to List BLEND/KRW Trading Pair
According to the official announcement, Bithumb will list the Fluent (BLEND) / KRW trading pair.
Bithumb to Launch PRL/KRW Trading Pair
According to the official announcement, Bithumb will list the PRL/KRW trading pair.
Bithumb, South Korea’s second-largest cryptocurrency exchange, has launched a flexible staking product for Story (IP).
According to the official announcement, Bithumb has launched a flexible staking product for Story (IP), adding it to its existing lineup of 15 assets—including ETH, SOL, and TRX. The incentive campaign will run from April 21 to 27, with a total prize pool of 200 million KRW. $IP is the native token of the Story protocol. Story positions itself as an on-chain IP infrastructure for AI, supporting IP registration, programmable licensing, and automated revenue distribution for datasets, models, and AI-generated content.
Related news
Upbit and Bithumb to Delist DRIFT
According to an official announcement, Upbit and Bithumb have stated that member companies of the Korea Digital Asset Exchange Association (DAXA) plan to terminate trading support for DRIFT. The reason for terminating DRIFT trading is that the foundation’s explanatory materials alone are insufficient to alleviate concerns that led to the project’s inclusion on the “Trading Caution List.” Furthermore, after a comprehensive review of all aspects related to the project’s progress, it was determined that the project fails to meet the criteria required to maintain trading support. DRIFT trading (buy/sell) will end on June 1, 2026, at 16:00 KST. Support for DRIFT withdrawals will be terminated on July 1, 2026, at 16:00 KST.
South Korea’s Personal Information Protection Commission launches investigations into Upbit and Bithumb, focusing on cross-border transfers of personal information via order book sharing.
According to SBS Biz, South Korea’s Personal Information Protection Commission has completed on-site inspections of Upbit and Bithumb and is now reviewing whether the two exchanges violated regulations by transmitting users’ personal information when sharing order books with overseas platforms. Results are expected to be announced in the second half of the year. The core of the dispute lies in whether personally identifiable information was transmitted alongside order books during the sharing process. South Korea’s Personal Information Protection Act stipulates that cross-border transfers of personal information require prior user consent; violations may trigger sanctions. Currently, Upbit shares its order book with Upbit APAC and Tether’s markets, while Bithumb previously shared its order book with the Australian exchange Stellar. Meanwhile, Bithumb is also engaged in a legal battle with financial regulators over alleged violations of the Act on Special Cases Concerning the Settlement of Financial Transactions. A court ruling on the validity of certain business suspension orders against Bithumb is imminent.
South Korean court halts financial regulator’s partial business suspension penalty against Bithumb
According to Yonhap News, the Seoul Administrative Court’s Administrative Division No. 2 ruled on April 30 to accept Bithumb’s application to suspend enforcement of a partial business suspension order issued against it by South Korea’s Financial Intelligence Unit (FIU). The effect of this partial suspension order will thus be stayed until the court issues its final judgment in this case. Previously, in March this year, the FIU imposed a severe penalty on Bithumb—six months of partial business suspension and a fine of KRW 36.8 billion—citing 6.65 million violations by Bithumb of obligations stipulated under South Korea’s Act on Reporting and Using Specified Financial Transaction Information (“Special Financial Information Act”). The suspended operations specifically involve external virtual asset transfers (i.e., deposits and withdrawals) for new customers. This marks the harshest penalty ever levied against a Korean won-based cryptocurrency exchange operating in South Korea. The penalty was originally scheduled to take effect on March 27. However, Bithumb filed an administrative lawsuit on March 23 and simultaneously applied for a stay of enforcement, thereby temporarily halting the penalty’s effect. The court’s formal acceptance of the application means that the sanctions will remain suspended until the final ruling is rendered in this case.
Bithumb to List MEGA/KRW Trading Pair
According to the official announcement, Bithumb will list the MEGA/KRW trading pair.
Korea's National Tax Service launches preparatory work for virtual asset taxation, targeting implementation in January of next year
the Korea National Tax Service has initiated preparatory work for virtual asset taxation, with the goal of formal implementation in January 2027 and preparation for comprehensive income tax filings in May 2028. According to the current Income Tax Act, income from the transfer and leasing of virtual assets will be classified as "other income," subject to a 22% tax rate on the portion exceeding an annual gain of 2.5 million Korean won, which is expected to affect approximately 13.26 million individuals.The Korea National Tax Service plans to begin collecting data from exchanges such as Upbit, Bithumb, Coinone, Korbit, and Gopax starting next year, to improve the taxation infrastructure and promote the launch of a comprehensive virtual asset analysis system within the year. However, controversies surrounding taxation standards and the risk of capital flight persist. (Edaily)
Bithumb to List BLEND/KRW Trading Pair
According to the official announcement, Bithumb will list the Fluent (BLEND) / KRW trading pair.