"Any URL for Bithumb Compensation Guidance Is 100% a Scam" Financial Authorities Issue Consumer Alert

Concerns Over Smishing Using Compensation and Damage Inquiry
Urges Users to Verify Only Through the Official Customer Service Center

The Financial Services Commission and the Financial Supervisory Service issued a consumer alert at the "Caution" level on February 12, warning of concerns over smishing scams that use compensation for Bithumb's erroneous payments as bait.

According to the Financial Services Commission, any text message containing an internet address (URL) link related to Bithumb erroneous payment compensation is 100% a scam, and the link must never be clicked.

An official from the Financial Services Commission explained, "Bithumb has not yet provided individual notifications regarding compensation payments, and even when it provides customer notifications in the future, it has decided never to include URLs," adding, "We have also taken measures to ensure that banner links or application (hereinafter app) push functions with similar features are not provided."

The Financial Services Commission warned that if a user clicks a URL of unclear origin included in a text message or KakaoTalk message, a malicious app may be installed, which can lead to personal information leaks and financial damage.

Once a malicious app is installed, the scammer can view text messages, call logs, photos, contacts, and other data stored on the mobile phone, and can also manipulate the caller ID to make calls that appear to come from numbers such as the Bithumb customer service center. In particular, even if the victim tries to seek help by contacting 112 or 1332, the scammer may intercept the call, so extra caution is required.

The Financial Services Commission stated that if a message contains phrases such as "compensation" or "check damage details," users should first suspect smishing. It also stressed that the customer service number listed in the message may well be the scammer's number, and therefore users must directly verify by calling the official Bithumb customer service number (1661-5566).

If a user receives a message suspected to be smishing, they can check whether it is smishing through the Boho Nara (Protection Country) service of the Korea Internet & Security Agency (KISA).

If it is suspected that a malicious app has already been installed, the user should immediately switch the mobile phone to airplane mode, then perform a factory reset of the phone, and visit a police station in person to report the damage. If financial damage such as a funds transfer has occurred, it is necessary to promptly report it to the financial institution of the victim's or scammer's account, or to the Integrated Voice Phishing Report and Response Center (112), and request a payment suspension.

An official from the Financial Services Commission said, "The financial authorities will closely monitor whether there are any financial scam damages related to Bithumb compensation going forward," adding, "If damage cases occur, we will also consider raising the consumer alert level from 'Caution' to 'Warning'."