South Korea’s Upbit Refunds 8.5 Billion Won After Crypto Hack

Upbit, South Korea’s largest cryptocurrency exchange, disbursed approximately 8.5 billion won ($6.07 million) to 380 victims of voice phishing. Utilizing a real-time Fraud Detection System (FDS) and police collaboration, Dunamu, Upbit’s operator, blocked fraudulent transactions and recovered stolen funds. This milestone demonstrates the exchange’s commitment to protecting user assets amid rising crypto scams.