Bithumb Introduces Video Verification for Elderly Users

PANews July 24 news: According to South Korean media Daum, the South Korean crypto exchange Bithumb announced the launch of a video-call identity verification procedure for elderly users to prevent financial crimes such as opening accounts under false names, renting out accounts, and crypto asset investment scams. Under the rules, if the video verification shows that the account is not actually used by the account holder, the platform will immediately restrict logins. If the user does not answer the video call, the system will attempt to contact them up to four times; if verification still cannot be completed, it will temporarily restrict withdrawal and asset transfer functions until identity confirmation is completed and use is restored.
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