Fraud-linked accounts rise at Korean bank after crypto exchange partnership begins

South Korean crypto exchange Bithumb's new banking partner, KB Kookmin Bank, has seen a sharp rise in accounts linked to financial fraud since the two began working together in late March, according to the Maeil Business Newspaper. The number of fraud-related accounts jumped from 101 in January and 100 in February to 148 in March, then surged to 268 in April. In contrast, Nonghyup Bank, which previously handled Bithumb’s banking services before passing them to KB Kookmin, reported a decline in such cases. Just 68 accounts were linked to fraud in June, the lowest among the country's top five commercial banks.