Question 1

What is Heleket and why did Bithumb block it?

Accepted Answer

Heleket is a cryptocurrency payment processor that TRM Labs assessed with high confidence to be operationally linked to Cryptomus, a Russia-connected platform penalized nearly CAD 177 million by Canadian regulators for money laundering and terrorist financing violations. Bithumb cut off the platform over AML and terrorism financing risks.

Question 2

What AML violations has Bithumb been penalized for?

Accepted Answer

South Korea's Financial Intelligence Unit found approximately 6.65 million violations of the Specific Financial Information Act, including 45,772 transactions with unregistered overseas crypto operators and failures in customer identity verification, resulting in a 36.8 billion won ($24.6 million) fine and a six-month partial business suspension that a court later paused.

Question 3

Is Bithumb still under investigation?

Accepted Answer

Yes. The Financial Services Commission is completing a separate legal review to determine sanctions related to a February 2026 incident in which a Bithumb employee accidentally paid out 620,000 Bitcoin instead of 620,000 won, and South Korea's Personal Information Protection Commission has opened a probe into order-book sharing with overseas platforms.

Heleket

UK sanctions Cryptomus, Heleket and TokenSpot months after rebrands

Bithumb cuts off Heleket over AML, terrorism financing allegations

One sharp brief.
Every day.

Heleket

UK sanctions Cryptomus, Heleket and TokenSpot months after rebrands

Bithumb cuts off Heleket over AML, terrorism financing allegations

One sharp brief.Every day.

One sharp brief.
Every day.