🚨 Crypto Alert: South Korea's Financial Intelligence Unit has flagged a whopping 500,000 to 600,000 potential KYC violations at Upbit, the nation's largest crypto exchange. This could mean hefty fines and a pause on their license renewal.

- Upbit's alleged lapses in KYC protocols might cost them $35.8 billion in fines.

- The exchange reportedly allowed account openings with blurred IDs, raising money laundering concerns.

- The Financial Services Commission is also eyeing Upbit for anti-monopoly issues.

What do you think about these developments? Share your thoughts below! 💬