On December 31, according to the announcement by the Korea Financial Intelligence Unit (FIU), regarding the cryptocurrency exchange Korbit's violation of the anti-money laundering (AML) obligations stipulated in the Act on Reporting and Using Specified Financial Transaction Information, the FIU decided to impose an "institutional warning" sanction on it and a fine of 2.73 billion Korean won (approximately 1.88 million USD). In addition, the FIU issued a "caution" sanction to its representative director and a "reprimand" sanction to the person responsible for anti-money laundering reporting.

This sanction involves three major violations found during the FIU's on-site inspection of Korbit from October 16 to October 29, 2024: Korbit had about 22,000 cases of customer identity verification (CDD) and transaction restriction violations, including accepting vague identification documents, allowing transactions with incomplete customer information, and failing to perform periodic customer re-verification obligations; conducted 19 asset transfer transactions with three undeclared overseas virtual asset service providers; and failed to perform the required money laundering risk assessment obligations before listing 655 new assets including NFTs.