Korea's FIU blocked 27 exchanges operating without registration, including KuCoin, BitMart, MEXC and Phemex. Their sites will be cut off and they must stop serving Korean users.
Only 28 providers are registered with the FIU, and 44 unregistered operators were referred to investigators. In 2025, KuCoin, MEXC and 12 others were already pulled from Google Play and the App Store in Korea. KuCoin says user assets remain safe.
The FIU urged users to check whether their exchange is registered and to withdraw from unregistered ones now, as funds may be hard to recover later.
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