Bithumb Introduces Video Call Identity Verification for Members Over 80 to Proactively Prevent Elderly Financial Fraud

Bithumb has introduced a video call-based identity verification process for senior members over 80 years old, enhancing protections against financial fraud targeting the elderly. As digitized financial services become more common, incidents of fraud against seniors have risen, including cases where perpetrators impersonate family members to open accounts or commit investment fraud. Bithumb's initiative, which goes beyond legal obligations to implement its own protective measures, has drawn industry attention. The platform now conducts video calls during new membership sign-ups and regular KYC checks to verify account ownership and transaction intent. If verification fails, account access and transactions are restricted, with temporary limitations on withdrawals and crypto transfers if confirmation cannot be achieved within four attempts.