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![MetaEraHK Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::81834205.png) MetaEra [@MetaEraHK](/creator/twitter/MetaEraHK) on x 49.1K followers
Created: 2025-07-22 00:51:39 UTC

South Korea’s FIU Probes Upbit Over Massive KYC Violations, Potential Fine Could Reach $XXX Billion

South Korea’s largest crypto exchange, @Official_Upbit, is under investigation by the Financial Intelligence Unit (FIU) after its parent company Dunamu was flagged for approximately XXXX million violations. The company faces a potential fine of up to XXX trillion KRW (approximately $XXX billion USD). Alleged violations include KYC failures and facilitating over XXXXXX transactions involving unregistered overseas virtual asset operators. While legal experts view the penalty figure as a theoretical maximum with low likelihood of full enforcement, industry insiders warn the case could trigger a “second Park Sang-ki incident,” potentially disrupting South Korea’s digital finance ecosystem.

A final decision is expected at the next FIU sanctions committee meeting scheduled for September XX.

![](https://pbs.twimg.com/media/GwbEEOjW4AAnps_.png)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947459490913177807/c:line.svg)

**Related Topics**
[south korean won](/topic/south-korean-won)
[kyc](/topic/kyc)
[upbit](/topic/upbit)

[Post Link](https://x.com/MetaEraHK/status/1947459490913177807)