South Korean regulator begins sanctions process against Dunamu: Report

South Korea's Financial Supervisory Service has begun formal sanctions proceedings against Dunamu (Upbit operator) following a $36 million November 2025 hack, citing delayed disclosure and potential violations of the Virtual Asset User Protection Act. Authorities plan to close regulatory gaps by adding explicit hacking sanctions and compensation provisions in the second phase of the Digital Asset Basic Act.

This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur, Fusion42's AI co-founder, reasons over.