Amidst the burgeoning virtual asset market, domestic virtual asset exchanges in Korea have witnessed a surge in won deposits, reaching a record high. A report by MTN News, citing data from Lee Jung-moon, a member of the Democratic Party, revealed that the top five domestic virtual asset exchanges (Upbit, Bithumb, Coinone, Cobit, and Gopax) saw their combined won deposits soar to 8.8336 trillion won in November 2021. This marked a remarkable increase compared to the 4.6893 trillion won recorded in October 2020. Among the exchanges, Upbit experienced the most significant growth, boasting a 98% increase in won deposits over the past year. This influx of funds underscores the growing popularity and adoption of cryptocurrencies in South Korea.