Bithumb, First Domestic Exchange to Introduce 'Bug Bounty' Program... "Aiming for Global-Level Security"

[Asia Economy Reporter Lee Myunghwan] Cryptocurrency exchange Bithumb announced on the 19th that it has introduced the 'Bug bounty' system, the first in the domestic industry, to improve security vulnerabilities in its platform service.

Bug bounty is a system that rewards white-hat hackers who discover security vulnerabilities in products or services provided by companies. Through bug bounty programs, companies can proactively block security breaches that may occur in their services.

According to an article published this year by the US economic magazine Forbes, 9 out of the top 10 global cryptocurrency exchanges operate bug bounty programs, indicating that this system has become a security trend in the related industry.

Bithumb is the first domestic virtual asset service provider (VASP) to introduce the bug bounty system, aiming to fundamentally block platform security leaks. To ensure smooth program operation, it has also formed a consortium with domestic information security specialist company 'Secui' and bug bounty platform operator 'FinderGap'.

In March, Bithumb was ranked first among domestic cryptocurrency exchanges by Forbes and was the only domestic VASP to receive a perfect score in the 'Cybersecurity' category. Bithumb explained that the introduction of the bug bounty system is a measure to further enhance its existing security level.

A Bithumb official said, "The bug bounty program can identify vulnerabilities based on various scenarios and proactively improve security threats," adding, "Bithumb will continue to make proactive efforts to build a secure environment where investors can trade safely."

This content was produced with the assistance of AI translation services.