Upbit Launches Suspicious Transaction Reporting Center

Upbit Strengthens User Protection with New Reporting Center

Dunamu, the blockchain and fintech company behind the cryptocurrency exchange Upbit, announced on August 7th the launch of a new reporting center for suspicious transactions.

[Photo by ⓒdunamu.com]

This initiative follows the enforcement of the “Act on the Protection of Cryptocurrency Users,” which took effect in July, requiring cryptocurrency exchanges to monitor and report suspicious trading activities to financial authorities.

Prior to the law’s implementation, Dunamu had proactively developed and operated the Upbit Market Oversight (UMO) system to monitor market activities.

Building on this, the company has now introduced the Upbit Suspicious Transaction Reporting Center and established a dedicated reporting channel on the Upbit website.

This platform allows users to report various fraudulent activities, such as price manipulation, insider trading, and the dissemination of false information. The identities of whistleblowers are strictly protected.

A representative from Dunamu stated, “We hope the reporting channel will help minimize the gray areas of unfair trading and foster a healthy investment culture. Dunamu remains committed to creating a transparent and fair investment environment where users can trade safely.”

Additionally, Dunamu continues to operate a suspicious transaction monitoring policy, issuing alerts in case of security issues or unusual transactions. The company also implements a market warning system to prevent unfair trading practices and protect users.

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^{Provided by : dunamu}