Upbit announces terms revision on suspicious trading, sanctioned-country access

South Korean crypto exchange Upbit announced revisions to its terms of service centered on restrictions for suspicious trading accounts and users in high-risk or sanctioned countries. Under the revised terms, Upbit said service access may be restricted for users who install the app through direct APK installation, use Android or iOS app versions below a specified threshold, or are suspected of abnormal trading as part of efforts to prevent financial accidents. The exchange also said deposits and withdrawals may be restricted if it requests proof of the source of funds and the user fails to provide sufficient documentation, while withdrawals and trading may be blocked immediately if a financial incident is reported. Accounts found to be involved in a financial incident may be suspended, and access may also be restricted if a user attempts to use the service from an IP address in a high-risk or sanctioned country or if the country of use cannot be verified.