So, a South Korean lawmaker just dropped the mic on Bithumb, accusing them of pulling a classic “gotcha” move with dark patterns that sneakily inflate your fees. Surprise, surprise. 🙄
According to The Maeil Business Newspaper, Bithumb raked in an extra 140 billion won (that’s about $97.6 million for us mere mortals) by making their fee process as clear as mud. Cheers to confusing people into coughing up more cash! 🍾
Kim Jae-sup from the People’s Power party spilled the tea, revealing Bithumb took in a cool 672.79 billion won in fees from February 2023 to February 2024, based on numbers from the Financial Supervisory Service. Yeah, not nothing.
They boasted a “lowest commission in Korea” at 0.04%, but actually charged users—drumroll—0.051%. That tiny difference piled up to a sneaky extra 140.91 billion won in fees. Math is wild when they’re doing the sneaky stuff behind the scenes. 💸
Oh, and here’s the kicker: to get that low fee, users had to register a coupon. Except nobody told them that clearly, because why should it be easy? Classic dark pattern stuff—tricking humans into spending more while making it look like it’s their fault. Genius, if you love irony.
Kim also pointed out that middle-aged folks were hit the hardest, because registering coupons sounds like a nightmare if you’re not a tech wizard. So it’s not just shady, it’s also, you know, *extra* cruel. But hey, where’s the fairness in fees, am I right? 😬
The lawmaker is calling out the regulators—Financial Services Commission and Fair Trade Commission—to slap some hands and stop this consumer con. Let’s see if anyone actually fixes it, though.
Meanwhile, Bithumb’s laughing all the way to the bank with a 265.4% revenue jump in 2024. They went from losing 14.8 billion won in 2023 to making 130.7 billion won in operating profit, plus a flashy 161.8 billion won in net profit. Talk about turning lemons into… well, more lemons, but with cash on the side. 🍋💰
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2025-04-28 11:03