๐จ Upbit Operator Dunamu Fights Back Against Business Sanctions ๐จ
๐น Dunamu, the operator of Upbit, South Koreaโs 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.
๐น FIU Allegations:
โ ๏ธ 45,000 transactions linked to 19 unregistered foreign exchanges
โ ๏ธ 34,000+ cases where transactions were approved without proper ID verification
โ ๏ธ Hundreds of thousands of violations of customer verification protocols
๐น Dunamuโs Response:
โ
Claims compliance measures have been improved
โ
Calls the sanctions too severe
โ
Filed a lawsuit to overturn the penalties and requested a stay of execution
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@coinmantra ๐ฌ Is this a fair crackdown or an overreach by regulators? Letโs discuss! ๐
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