Upbit operator Dunamu files lawsuit to overturn business sanction

Quick Summary:

Upbit parent firm Dunamu attempts to overturn its business sanction after regulators find serious faults in its verification process.

In addition to the suspension, the FIU also imposed disciplinary measures against Upbit and its executives for violating local regulations.

During a test of Upbit’s customer verification system, a subcontractor handling Dunamu’s KYC operations hand-drew an ID card as part of the test.

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Article Details

Author / Journalist: Cointelegraph by Yohan Yun

Category: Crypto

Markets: United StatesSouth Korea

Topics: Business Regulators South Customer Dunamu System Upbit’s Upbit Crypto Verification Suspension

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-28 @ 13:36:33 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 527 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26512797

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 92 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #11

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