Dunamu Strengthens Cybersecurity with Anti-Voice Phishing Campaign During Holiday Season

Dunamu, the operator of South Korea's foremost cryptocurrency exchange, Upbit, is taking decisive action to combat the rise in cyber scams prevalent during holiday periods. With its newly launched “Anti-Voice Phishing Campaign,” the company aims to prevent financial fraud and protect users during the Chuseok festivities. This initiative comes at a crucial time, as cybercrime typically spikes during national holidays due to increased online activity and financial transactions.

Identifying Common Cyber Scam Tactics

Upbit has issued an official notice detailing the most common scam strategies targeting cryptocurrency users. The aim is to educate the public about these fraudulent practices and provide actionable countermeasures. Some of the scams highlighted in the notice include:

• Fake Cryptocurrency Exchanges: Fraudsters lure victims with promises of high returns.
• Account Rental Solicitations: Scammers request temporary access to user accounts, a red flag for malicious activity.
• Impersonation Attempts: Criminals pose as prosecutors, Financial Supervisory Service agents, or Upbit employees. Verification is critical to avoid falling victim.
• Smishing and Malicious Links: Social engineering tactics like smishing attacks compromise user security via text messages and harmful links.
• Romance Scams: Fraudulent romantic engagements often lead to financial scams.
• Investment Schemes Promising Loss Recovery: Offers claiming “loss recovery” guarantees are almost always scams.

Upbit’s campaign stresses user vigilance with key precautions, including:

• Carefully verifying that a cryptocurrency exchange is properly registered.
• Rejecting any requests for account rentals under any circumstances.
• Confirming the legitimacy of individuals claiming to represent official entities or companies.
• Thinking twice before clicking on links or responding to unsolicited messages.

Upbit’s Robust Fraud Prevention Framework

As part of its long-standing commitment to reducing cyber scams, Upbit has implemented multiple measures aimed at fraud prevention and victim support.

One of its landmark initiatives was the establishment of a dedicated voice phishing call center (available 24/7 at 1533-1111) in December 2021. This resource has proven integral in countering increasingly sophisticated scams targeting cryptocurrency traders.

Beyond direct support, Upbit has continually strengthened its internal systems to detect and prevent fraudulent activity. The exchange utilizes advanced real-time abnormal transaction detection systems (FDS) and monitors deposit and withdrawal patterns to safeguard user assets. As of August 2025, Upbit reported that its FDS system has successfully protected KRW 145 billion in user funds from falling into fraudulent schemes.

Rehabilitation for fraud victims is another priority. Since 2020, Upbit has collaborated extensively with financial institutions and law enforcement agencies, facilitating the recovery of nearly KRW 14 billion for around 700 victims. Such efforts reaffirm the company’s role as a leader in cybersecurity and fraud prevention.

Promoting Social Responsibility in Digital Finance

An Upbit spokesperson emphasized the broader societal implications of combating cyber scams, stating: “The prevention of cyber fraud requires collective, cross-sectoral efforts. As South Korea’s leading cryptocurrency exchange, Upbit remains committed to safeguarding both individual users and the integrity of the cryptocurrency ecosystem.”

Dunamu’s latest initiative not only protects users but also raises public awareness about the potential risks of cyber crimes in digital finance. By fostering vigilance and implementing innovative safeguards, Upbit is positioned to be a trustworthy ally for cryptocurrency investors in an increasingly digital world. This campaign underscores the company’s dual focus: strengthening user protection and advancing its social responsibility within the evolving landscape of digital assets.