KB Kookmin Bank renews Bithumb real-name account deal for shortened 6-month term

KB Kookmin Bank has renewed its real-name account partnership with South Korean cryptocurrency exchange Bithumb but has shortened the contract term from one year to six months, the Seoul Shinmun reported. While technically a renewal, the decision to halve the typical annual contract period signals a more cautious, conditional approach from the bank. The move is seen as a response to the increased risk management burden on the bank, following a police investigation into allegations of hiring favors at Bithumb, compounded by the exchange's recent large-scale erroneous Bitcoin payout incident.