Upbit operator Dunamu fined $25 million for AML violations
2025-11-25 14:59:40
South Korea's Financial Intelligence Unit (FIU) has fined Upbit operator Dunamu $25 million and suspended new customer registrations for three months. The regulator found about 5.3 million customer verification violations at the exchange and failed to report 15 suspicious transactions. Dunamu is considering an appeal, saying FIU has a precedent in the past where judgments have been overturned by courts. Meanwhile, FIU has also conducted compliance checks on other Korean exchanges such as Bithumb, Coinone, Korbit, and GOPAX, finding multiple violations. Upbit has promised to strengthen investor protection measures to ensure a safe trading environment for customers.
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