Upbit accused of large-scale KYC breaches, possible money laundering links
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South Korea’s Financial Intelligence Unit (FIU) of the Financial Services Commission is investigating Upbit for what could be one of the largest KYC scandals in crypto history. Authorities have reportedly uncovered between 500,000 and 600,000 suspected breaches of customer verification rules. These violations came to light during a detailed review of Upbit’s business license renewal.
Source: Cryptopolitan
