South Korea’s regulator starts sanctions process against Dunamu
The Financial Supervisory Service has sent an inspection opinion letter to Dunamu, operator of crypto exchange Upbit, regarding the $36 million hack from November 2025.
The letter marks the formal start of a sanctions procedure, allowing Dunamu to respond before proposed sanctions are notified.
The regulator is reviewing whether Upbit violated the Virtual Asset User Protection Act, which lacks explicit sanctions provisions for hacking incidents.