South Korea Blocks 27 Unregistered Crypto Exchange Websites Including KuCoin and MEXC

South Korea’s Financial Intelligence Unit said on October 13 that domestic access to 27 active websites linked to unregistered virtual-asset service providers had been blocked or terminated, following reviews conducted on October 6 and 7. The action restricts normal access in South Korea to platforms reported to include KuCoin and MEXC.

FIU blocks or terminates access to 27 platforms

The Financial Services Commission announcement said the FIU acted against 27 websites that were still operating at the time of its review and were connected to providers not registered as virtual-asset service providers in the country.

For a domestic operator or server, the restriction is service termination; for an overseas website, it is an access block.

KuCoin, MEXC and other named platforms

KuCoin, MEXC, BitMart, BingX, Phemex, XT.com, Bitrue, CoinW and BTCC are among the platforms affected, according to CoinDesk’s reporting on the FIU action.

The nine named platforms account for nine of the 27 websites covered by the restrictions.

The regulator’s announcement describes the targets as websites tied to unregistered providers, rather than setting out a separate operational rationale for each named platform. It restricts domestic access through service termination when the operator or server is domestic and access blocking when the website is overseas.

Enforcement beyond website restrictions

The website action sits alongside a wider FIU enforcement pipeline. The agency has referred 44 unregistered operators to investigators, CoinDesk reported, extending the matter beyond measures aimed at limiting online access.

The FIU has also warned users that recovering funds held with unauthorized platforms may be difficult. That warning puts particular weight on the practical consequences for customers whose ability to reach a platform is curtailed, while the reported referrals remain with investigators.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.