Upbit Suspends Paxful Transactions Due to Legal Concerns

2025-12-11 15:45

Upbit has temporarily suspended deposits and withdrawals involving Paxful following the platform's guilty plea to U.S. criminal charges related to money laundering, fraud, and sanctions violations. The South Korean exchange cited compliance concerns as the primary reason for the suspension, aiming to mitigate regulatory and financial risks. The suspension does not affect individual users, and Upbit has advised users to stay informed about further updates. This development highlights the ongoing challenges exchanges face regarding compliance and security in the cryptocurrency sector.

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