Bithumb Implements Measures After Major Telecom Data Breach
A data theft from SK Telecom in South Korea made crypto investors at Bithumb exchange fears about their digital assets.
On April 19, 2025, technicians found that the company had leaked 34 million users’ personal data, exposing them to SIM-swapping attacks that threaten their cryptocurrency wallets.
A hacking attack on SK Telecom exposed USIM data that attackers could use to perform SIM swapping fraud. Unscrupulous hackers use digital scams to take over phone numbers and exploit their access to digital assets, including cryptocurrency accounts.
Bithumb Urges Users to Strengthen Security Practices
The crypto community remains vigilant against potential misuse of the stolen data, although no incidents have been identified so far. After the attack, SK Telecom quickly started reinforcing its systems against future incidents.
The company stopped unauthorized USIM connections during this event while checking for abnormal authentication activities. The company recommended users turn on USIM lock protection because this security option blocks unauthorized transactions from the device.
The South Korean cryptocurrency exchange Bithumb introduced real-time security monitoring to defend digital assets from any further damage. The service provider plans to make its share offering to the public later this year, while promising users it took all needed steps to protect their money from mobile data threats.
Bithumb Moves Forward with Kosdaq Listing Plans
As a precaution, Bithumb encourages users who rely on SK Telecom for services to strengthen their security levels and implement secondary verification methods. The company initiates this security boost due to rising community fears after multiple blockchain system vulnerabilities led to successful attacks on the networks, including the XRP Ledger breach.
Aikido Security announced that xrpl.js in XRP Ledger development was tampered with when used between versions 4.2.1 and 4.2.4. Disclosing this vulnerability strengthens security demands from cryptocurrency exchanges and developers.
The company keeps moving forward to list its stock on Kosdaq during 2025’s second half. The exchange will split in two new companies by July 31, 2025 as part of its organization upgrade plan. Bithumb Korea manages market exchanges plus conducts IPO duties whereas Bithumb A concentrates on venture investing and financial resource supervision.
The fast response of Bithumb to the SK Telecom hack proves that exchange security is vital for its growth, especially during public listing preparations. Bithumb introduced security updates to combat hacking, like Bybit that joined Zodia Custody in response to their $1.45 billion attack in early 2025.
