FSS Opens Sanctions Against Dunamu Eight Months After Upbit Hot Wallet Drain

South Korean regulators have formally initiated proceedings against the operator of Upbit following a November breach that exposed 38.6 billion won in customer assets.

South Korea’s Financial Supervisory Service delivered an inspection opinion letter to Dunamu on July 18, officially opening sanctions proceedings against the operator of the country’s largest cryptocurrency exchange. The regulatory action addresses a security breach that occurred eight months prior, when attackers compromised a Solana-based hot wallet and drained approximately 44.5 billion won. The FSS has not stated why the enforcement timeline stretched from late November to mid-July, and the record contains no information regarding the agency’s activities during the intervening period. [2][6]

Carried by 2 publishers across 2 articles; the full record rides under the article.

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