Bithumb, the only one with '2-month disclosure,' eventually revised completely

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Bithumb directly addressed the '2-month disclosure' controversy and fully disclosed its 5-year financial benefit details, reigniting the debate over disclosure standards among exchanges.

According to industry sources on the 30th, Bithumb re-disclosed retroactively the details of financial benefits provided for the past five years, from 2022 to March 2026, through its official website this afternoon. This action comes approximately 10 days after its previous disclosure.

Previously, the top five domestic virtual asset exchanges disclosed details of financial benefits provided to users in accordance with the 'Code of Conduct for Advertising and Promotional Activities by Virtual Asset Service Providers' by the Digital Asset eXchange Alliance (DAXA). Upbit, Coinone, Korbit, and Gopax disclosed based on the same period from January 2022 to March of this year, while Bithumb only disclosed for two months, from February to March, raising concerns about fairness.

Bithumb's position at the time was that it only disclosed data from February, when the obligation arose according to the addendum to the code of conduct. However, it later explained that it expanded the scope of disclosure to ensure objectivity and consistency and proceeded with re-disclosure.

According to the disclosure, approximately 98% of the total amount was provided as benefits in the form of transaction fee discounts and waivers, rather than cash payments. Bithumb emphasized that the benefits were applied equally to all users and focused on enhancing transparency.

A Bithumb official stated, “We will continue to strictly adhere to disclosure standards in the future to increase market trust and ensure that all users can receive benefits without discrimination.”

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