The Korea Financial Regulatory Authority has initiated sanctions against the Upbit operator Dunamu

According to the Korean Federation, the Korea Financial Regulatory Authority has issued an investigation report to the Upbit operator, Dunamu, to initiate sanctions procedures. The company had previously been subjected to a 44.5 billion won hacker attack. Since the incident, the Financial Supervisory Authority (FSS) has been investigating whether there have been violations of the Virtual Asset User Protection Act, but it remains uncertain whether there are no direct penalties for hacking or computer system failure, which would result in severe disciplinary action. The Financial Supervisory Authority plans to inform the company in advance of its sanctions opinion, which includes the level of sanctions, after the company has provided an explanation. The final sanctions will then be determined by resolutions of the Sanctions Review Committee, the Securities and Futures Monitoring Committee and the Financial Services Committee。