Feb 12 • 05:17 UTC 🇰🇷 Korea Hankyoreh (KR)

“Bithumb Compensation URL is 100% a Scam”... Financial Supervisory Service Consumer Warning

The Financial Supervisory Service of South Korea has issued a consumer warning about a scam related to compensation for a recent Bitcoin payment issue at the Bithumb exchange.

In response to the recent incident involving the overpayment of Bitcoin by the Bithumb exchange, South Korea's Financial Supervisory Service (FSS) has issued a strong consumer warning indicating that any URLs claiming to provide compensation related to this matter are unequivocally scams. The FSS clarified that Bithumb has not yet announced any individual compensation guidance and emphasized that future communications from the exchange will never include URL links. This warning aims to protect consumers from potential phishing attempts and financial fraud.

The FSS specifically highlighted that if consumers receive messages containing terms like 'compensation' or 'damage inquiry', they should suspect fraud. To confirm the legitimacy of such messages, individuals are encouraged to use protective services such as the Korea Internet & Security Agency (KISA) 'Protection Country' service, which helps individuals verify the validity of suspicious notices. Additionally, the FSS urged users who may have clicked on fraudulent links, resulting in the installation of malicious apps, to switch their devices to airplane mode and reset their phones, while also reporting the incident to the police.

Moreover, the FSS announced its commitment to monitoring future fraudulent activities targeting Bithumb compensation claims closely. Should any further consumer fraud cases arise, they may elevate their warning levels to ensure the public is adequately informed and protected. This proactive stance reflects the ongoing efforts by regulatory authorities to safeguard consumers in the face of increasing financial scams in the cryptocurrency domain.

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