Bithumb, one of South Korea's leading cryptocurrency exchanges, is facing serious allegations of deceptive business practices after a lawmaker accused the platform of using "dark patterns" to charge users higher fees than what was publicly advertised. The accusations come amid growing concerns over transparency and fairness in the crypto industry, particularly regarding user charges and fee structures.

According to a report by The Maeil Business Newspaper, Kim Jae-sup, a lawmaker with the People’s Power party, revealed that Bithumb had earned over 140 billion won (approximately $97.6 million) in excess fees by using unclear and misleading fee processes. These practices reportedly misled users into paying more than they expected, based on the company's advertising.

Kim shared data from South Korea's Financial Supervisory Service, which indicated that Bithumb had collected a total of 672.79 billion won in fees between February 2023 and February 2024. The exchange had promoted itself as offering the "lowest commission in Korea," with a rate of 0.04%. However, according to Kim, the actual commission rate charged to users was considerably higher—an average of 0.051%. This discrepancy, the lawmaker argues, led to additional charges amounting to approximately 140.91 billion won, a significant financial burden on users who relied on the advertised rates.

The accusation highlights a broader issue of transparency in the cryptocurrency sector, where users often face hidden or unclear fees that can drastically affect their overall experience. As the cryptocurrency market matures, regulators are increasingly scrutinizing exchanges like Bithumb for their fee practices and customer relations, with calls for clearer disclosures and fairer pricing structures becoming more common.

Bithumb has yet to publicly respond to the allegations, but this incident could put added pressure on the exchange as it navigates the complexities of operating in a highly regulated and competitive market. The case also raises important questions about how crypto exchanges disclose their fees and the ethical implications of using deceptive tactics to boost profits.