Upbit, a South Korean virtual asset trading platform, has recently refunded approximately $6 million to around 380 telecom fraud victims. The company’s operator, Dunamu, utilized the real-time abnormal transaction monitoring system (FDS) to freeze the victims’ funds and worked closely with the Seoul Police Agency to expedite the return process.
In February of this year, about $4.5 million was returned to 246 victims, and now an additional $1.5 million has been returned to 134 victims. Upbit is committed to continuing its efforts to protect user assets from telecommunications fraud by enhancing monitoring and collaboration with relevant agencies.
