The South Korean Financial Investigation Agency (FIU) issued an institutional warning and fined Korbit 2.73 billion won for anti-money laundering violations.

The Financial Intelligence Unit (FIU) of Korea announced that its comprehensive anti-money laundering inspection of virtual asset exchange Korbit revealed violations of the Specified Financial Information Act. These violations included breaches of customer due diligence obligations, transaction restriction obligations, a ban on transactions with undeclared overseas virtual asset service providers, and failure to conduct money laundering risk assessments for new businesses such as NFTs. The FIU decided to issue an institutional warning to Korbit and impose a fine of 2.73 billion won (approximately US$1.88 million), while also issuing a warning to the representative director and a reprimand to the person responsible for reporting.