Upbit $30 Million Hack Spurs Dunamu Sanction Process

South Korea's Financial Supervisory Service has formally initiated sanctions against Dunamu, operator of Upbit, following a November 2025 hack that drained $30 million in Solana assets in 54 minutes. The case tests a regulatory gap: South Korea's Virtual Asset User Protection Act contains no direct sanction provisions for exchange breaches, leaving penalty severity uncertain.

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