đ¨ Upbit Operator Dunamu Fights Back Against Business Sanctions đ¨
đš Dunamu, the operator of Upbit, South Koreaâs largest crypto exchange, has filed a lawsuit against the Financial Intelligence Unit (FIU) to overturn a 3-month business suspension set to begin on March 7, 2025.
đš FIU Allegations:
â ď¸ 45,000 transactions linked to 19 unregistered foreign exchanges
â ď¸ 34,000+ cases where transactions were approved without proper ID verification
â ď¸ Hundreds of thousands of violations of customer verification protocols
đš Dunamuâs Response:
â
Claims compliance measures have been improved
â
Calls the sanctions too severe
â
Filed a lawsuit to overturn the penalties and requested a stay of execution
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