Korbit, a South Korean exchange, recently accepted a penalty decision from the financial intelligence department due to serious deficiencies in anti-money laundering compliance, resulting in a fine of approximately $2 million and an official warning. Korbit chose to accept the penalty and waived the right to appeal.

The investigation report pointed out several issues: the trading monitoring system is not sufficiently完善, and there are numerous vulnerabilities in the customer identity verification process. Specifically, Korbit was found to have approximately 22,000违规交易 that were not properly flagged, and it allowed users who had not completed KYC verification to trade. These are serious compliance matters.

This case reflects that even leading exchanges are prone to systemic vulnerabilities in AML and KYC enforcement. For other exchanges, this serves as a significant warning—the regulatory attitude is becoming increasingly strict worldwide, and exchanges must prioritize compliance, or the costs will be high.