Upbit refunds approximately 8.5 billion Korean won to 380 telecom fraud victims

According to BlockBeats, on November 22nd, South Korean virtual asset trading platform Upbit announced that it has refunded approximately 8.5 billion Korean won (approximately 6.07 million US dollars) to around 380 victims of telecom fraud. The operator Dunamu used the real-time abnormal transaction monitoring system (FDS) to freeze the victim funds and cooperated with the Seoul Metropolitan Police Department to promote the return process. Approximately 5 billion Korean won has been returned to 246 victims in February this year, and an additional 3.5 billion Korean won has been returned to 134 victims this time. Upbit stated that it will continue to strengthen monitoring and collaboration to protect user assets from telecom fraud.