Bithumb introduces video verification mechanism for elderly users

Odaily Odaily Planet Daily News South Korean cryptocurrency exchange Bithumb has announced the introduction of a video call identity verification process for elderly users to prevent financial crimes such as identity theft for account openings, account rentals, and crypto asset investment scams. According to the rules, if the video verification finds that the account is not actually being used by the individual, the platform will immediately restrict login; if the user does not answer the video call, the system will attempt to contact them up to four times. If verification cannot be completed in the end, withdrawal and asset transfer functions will be temporarily restricted until identity confirmation is finished and services are restored. (Daum)