Bithumb Raises Bug Bounty Reward to $145,000, Revamps Privacy Center

Bithumb said July 2 that it will raise the maximum reward under its bug bounty program to 200 million won ($145,000) and step up operations at its Privacy Center, where it discloses its personal data protection efforts.

A bug bounty program pays rewards to white-hat hackers who identify security vulnerabilities in a service. The system is used to detect and address potential risks in advance through reports from external security experts. Bithumb said it introduced the program in 2022, becoming the first virtual asset service provider in South Korea to adopt it.

Beginning in the second half of this year, Bithumb will sharply increase payouts, with rewards of as much as 200 million won ($145,000). The amount will vary depending on the severity of the reported vulnerability.

Participants can conduct black-box penetration tests within a pre-designated scope and report any vulnerabilities they find. Bithumb plans to use the program to eliminate potential security risks in advance and further strengthen platform security. The company said the higher rewards should encourage greater participation by white-hat hackers and help expand a culture of responsible vulnerability disclosure.

Separately, Bithumb revamped its Privacy Center to provide more transparent disclosure of its personal data protection efforts. The center will publish details on how personal information is handled, the company's information security activities, the status of its bug bounty program, and the contents of regular meetings of its information security advisory committee. Bithumb said the move is aimed at building an open and transparent security framework.

A Bithumb official said the company raised the bug bounty reward to one of the highest levels in South Korea to create a safe environment where investors can trade with confidence. Bithumb will continue to share its information security efforts, including the activities of its information security advisory committee, through the bug bounty program and the Privacy Center as it works to build an open security ecosystem, the official added.