Korea Consumer Agency begins dispute mediation over Bithumb API event

The Consumer Dispute Mediation Commission of South Korea's Consumer Agency has initiated a collective dispute mediation process concerning payments for an API integration event held by the crypto exchange Bithumb, Yonhap News reported. The commission will post a public notice about the mediation until March 23 while it begins to draft a settlement proposal. The dispute stems from a promotion Bithumb ran last November for first-time API traders, which offered a full rebate on trading fees and a support payment of 100,000 won (around $75). After the event began, the exchange added a clause excluding one-time trades made solely to receive the benefits and subsequently refused to make the payment to some users.