Upbit has refunded approximately $6.07 million to 380 victims of telecom fraud.

According to Foresight News, South Korean cryptocurrency exchange Upbit has refunded approximately 8.50 billion Korean Won (about 6.07 million USD) to around 380 victims of telecom fraud. The operator, Dunamu, utilized a real-time abnormal transaction monitoring system (FDS) to freeze the affected funds and collaborated with the Seoul Metropolitan Police Agency to facilitate the refund process. Previously, Upbit refunded approximately 5 billion Korean Won to 246 victims in February of this year, and this time, an additional 3.50 billion Korean Won was refunded to 134 victims.