Bithumb introduces video verification mechanism for senior users

Odaily Planet Daily News South Korean cryptocurrency exchange Bithumb has announced the launch of a video call identity verification procedure for senior users to prevent financial crimes such as identity theft for account opening, account rental, and crypto asset investment fraud. According to the regulations, if a video verification reveals that the account is not actually being used by the rightful owner, 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 ultimately cannot be completed, the platform will temporarily restrict withdrawals and asset transfers until identity confirmation is finished and normal usage is restored. (Daum)