Upbit parent Dunamu enters sanction process over $30 million exchange hack

South Korea’s Financial Supervisory Service reportedly sent Dunamu an inspection report concerning the November 2025 theft of 44.5 billion won, the first formal step toward possible sanctions. Upbit covered approximately 38.6 billion won in affected customer assets from its reserves and has reportedly frozen 2.6 billion won of the stolen funds. The potential sanction is commercially important because Dunamu’s stock-swap merger with Naver Financial remains pending.