🇰🇷 The Upbit exchange faces a record fine of up to 183,000,000,000,000 won ($131b) in South Korea for massive violations of KYC rules.

⊹ More than 9,500,000 cases of customer identification violations have been identified.

⊹ Most violations are the lack of identity verification for users.

⊹ The maximum fine is up to 100,000,000 won for each case.