Dunamu

Upbit, operating under the Dunamu brand, is a cryptocurrency exchange that enables users to buy, sell, and trade a variety of digital assets. The platform provides spot trading markets for major cryptocurrencies such as Bitcoin, Ethereum, and numerous altcoins, as well as fiat‑to‑crypto pairs involving the South Korean won. Users can deposit funds via bank transfer or other supported payment methods and execute trades through a web interface or mobile application. Upbit also offers custodial wallet services, allowing customers to store their holdings directly on the exchange. The service targets both retail investors and institutional participants, with a primary focus on the South Korean market while maintaining accessibility for international users. By integrating real‑time market data and order‑matching engines, Upbit aims to deliver a liquid and efficient trading environment.

Upbit’s distinguishing attributes stem from its specialization in digital‑asset exchange and its response to security challenges. In November 2019 the exchange experienced a cyberattack in which approximately 342,000 ETH, valued at about $48.5 million, were transferred from its hot wallet to an unknown address. Following the incident, Upbit suspended deposit and withdrawal services, moved the remaining hot‑wallet assets to offline cold storage, and pledged to cover any customer losses using company funds. The exchange emphasized that the breach did not reflect fraudulent intent on its part and committed to restoring normal operations within a short timeframe. This episode highlighted Upbit’s focus on rapid incident response and asset safeguarding measures, which have since become part of its operational profile. Headquartered in South Korea, Upbit operates within the country’s evolving regulatory framework for virtual asset service providers.