Dunamu, the operator of the cryptocurrency exchange Upbit, recently held a board meeting and voted to reappoint CEO Lee Seok-woo. The reappointment will be confirmed after the extraordinary shareholders meeting scheduled for next month on the 5th. If confirmed, Lee Seok-woo will lead Dunamu for nearly 10 years until 2026.

Upbit announced that due to the QTUM network hard fork upgrade, withdrawals/deposits of QTUM will be suspended on November 26th. An additional announcement will be made when withdrawals/deposits are resumed after the upgrade.

According to official sources, Infomax, a financial information subsidiary of the South Korean news agency Yonhap, announced that it will provide standard prices for virtual assets in South Korea by the end of this year. Yonhap's Infomax has signed API supply contracts with the country's five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax). Through this method, the standard price of the country's virtual assets will be provided every 30 minutes as a weighted average based on the actual trading volume of these five Korean won exchanges.

According to a report from on-chain data company CryptoQuant's analysts on Friday, the spot trading volume of Upbit, a local exchange in South Korea, has almost doubled since September. Upbit, which accounts for over 85% of South Korea's trading volume, saw its trading volume in October increase from $32.8 billion to $59.8 billion, an increase of 82% from September. (CoinDesk)

According to an official announcement, Upbit stated that cryptocurrency withdrawals are temporarily delayed due to congestion on the Bitcoin network.

South Korean crypto exchanges Upbit and Bithumb have announced that the identity verification service using resident registration cards for customer verification is temporarily delayed due to an emergency inspection of the national ID verification agency. However, identity verification using driver's licenses can still be carried out normally, so it is faster to use driver's licenses for verification.

Upbit has announced that users can only use the open API service through pre-registered IP addresses. High-risk IP addresses, including those that have been or may be used for criminal activities or violate the terms of use, may be rejected for registration. If users inevitably need to use a rejected IP address and have different judgments on the risks of that IP address, they can apply for a risk review of that IP address through the customer center. At this time, the company may require users to provide relevant data to determine whether the risk of that IP address is significant.

Operator of the virtual currency exchange Upbit has been acquitted by the Supreme Court of Korea. They were accused of profiting from pretending to deposit a large amount of assets into fake accounts, totaling 100 billion Korean won. The Supreme Court's first trial chamber (Chief Justice Oh Kyung-mi) confirmed the initial ruling, and Upbit operator Dunamu's Chairman Song Chi-hyung, CFO Nam Mo, and Data Value Director Kim Mo were acquitted. They were charged by prosecutors with forging electronic records and fraud under the Specific Economic Crimes Aggravated Punishment Act. The appellate court further determined that some of the prosecution's evidence was illegally collected and therefore not admissible.

According to Scopescan monitoring, Upbit has sent 2.1 million BLUR (754,000 US dollars) to OKX through 4 OKX deposit addresses since yesterday.

According to Scopescan data monitoring, 2 hours ago, Upbit received 3.58 million IMX from other CEX. Within 3 days, Upbit received 16 million IMX (worth $13.6 million) from other CEX. Their current holdings are 26.4 million IMX (worth $25.39 million).