Woofun AI reports that South Korean exchange Bithumb has officially declined to facilitate the planned token swap for Humanity (H), citing critical deficiencies in investor protection protocols. This decision follows a recent security incident involving the project and explicitly rejects the Humanity foundation's proposal to deprecate the legacy H token in favor of a 1:1 exchange for a new version.

The exchange emphasized that the migration process will not be supported on its platform, requiring all participants to utilize the claim portal operated directly by the Humanity foundation. While Bithumb confirmed that withdrawals for the existing H token will resume at 9:00 a.m. UTC to allow users to move assets to personal wallets, the refusal to handle the swap directly shifts the operational burden entirely onto individual investors.

Monitored by Woofun AI, this strategic pivot highlights a growing wariness among major trading platforms regarding token migrations that occur immediately after security breaches. By stepping back from the intermediary role, Bithumb forces H token holders to navigate the foundation's mechanism without the typical oversight provided by a centralized exchange, thereby increasing potential execution risks.

Structurally, this incident underscores the widening tension between decentralized project governance and the stringent compliance standards enforced by centralized entities in regulated jurisdictions like South Korea. The outcome may establish a significant precedent for how other domestic platforms approach similar migration requests in the future, prioritizing regulatory caution over operational convenience.