Foreign media: South Korean authorities found more than 500,000 KYC violations on Upbit, and fines may reach US$34.3 billion

PANews reported on January 19 that according to Cointelegraph, South Korean authorities found that Upbit had more than 500,000 KYC violations, and the fine may be as high as $34.3 billion.

According to previous news, the South Korean financial authorities informed Upbit that it would face bankruptcy and rectification measures .