Korbit, South Korea's fourth-largest exchange, faces heavy fines. Source: Chung Sung-Jun/Getty Images. Key Takeaways South Korea’s FIU fined Korbit $1.9 million for weak AML and KYC rules on December 31, 2025. Main issues: 22,000 unverified users, deals with unregistered foreign platforms, and poor risk checks. Penalties include a fine, a warning to exchange, and the CEO, following Upbit’s earlier larger fine. South Korea’s Financial Intelligence Unit (FIU) found the Korbit crypto exchange in viola ...

Dunamu, the operator of South Korea’s largest crypto exchange Upbit, said it is considering appealing a $25 million fine and sanctions imposed by the Financial Intelligence Unit (FIU) for alleged violations of anti-money laundering (AML) and know-your-customer (KYC) regulations. The FIU also suspended Upbit’s new user onboarding for three months. https://t.co/43wBOUlDBe ...