TechFlow news, on November 22, South Korea's virtual asset exchange Upbit announced it has returned approximately 8.5 billion Korean won (about $6.07 million) to around 380 victims of telecom fraud.
Operator Dunamu froze the affected funds using its real-time abnormal transaction monitoring system (FDS), and worked with the Seoul Metropolitan Police Agency to facilitate the return process. In February this year, about 5 billion won was returned to 246 victims; this time, an additional 3.5 billion won is being returned to 134 victims.
Upbit stated it will continue enhancing monitoring and collaboration efforts to protect users' assets from telecom fraud.
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