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Upbit says it lifted its restrictions on deposits and withdrawals involving Bitunix on January 22, 2026, after a risk assessment found the previously identified unreported-business conduct had been resolved. The change removed a specific transfer restriction; it was not a general regulatory approval or an endorsement of Bitunix.
What changed, and when?
Upbit first added Bitunix to its restricted exchange list on March 21, 2025, alongside KCEX. The notice said deposits and withdrawals involving listed exchanges were restricted regardless of amount, and warned that previously registered withdrawal addresses could also be blocked. The notice, reproduced by CoinCarp and linked there to the original Upbit notice, was updated to record the lifting: Upbit’s notice on transfer restrictions.
According to that notice, Upbit lifted the Bitunix restriction on January 22, 2026, following its virtual-asset-business-operator risk assessment. Bitunix published its own statement on February 12, 2026. A January 26, 2026 KuCoin Flash item also reported the January 22 lifting date, attributing it to announcements from Upbit and Bitunix: KuCoin Flash’s report.
What the lifting does—and does not—mean
The change concerned transfers between Upbit and Bitunix. The notice does not describe a termination of trading support or a delisting. It establishes that Upbit removed this particular restriction after its assessment found the identified conduct resolved.
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- It does not establish that Bitunix received South Korean registration or general regulatory approval.
- It does not mean Upbit endorses Bitunix.
- It does not establish that every asset, network, account, transfer direction, or jurisdiction is currently eligible.
Upbit’s notice cites Article 10-20(4) of the Enforcement Decree of South Korea’s Act on Reporting and Using Specified Financial Transaction Information as the basis for restrictions involving listed unreported virtual-asset business operators. It also tells users to check that their provider is properly registered and is not designated for transfer restrictions. This is Upbit’s explanation in its notice, not an independent interpretation of South Korean law.
What to check before attempting a transfer
The January 2026 update is a past development, not a guarantee of present availability. Before initiating a transaction, confirm the details that apply to your specific account and transfer:
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- Check Upbit’s current transfer-restriction notice and Bitunix’s current notices.
- Confirm the transfer direction, asset, and network; availability can depend on the particular transaction.
- Review address rules, including whether a previously registered withdrawal address is accepted.
- Check your own jurisdiction and account eligibility, as well as the applicable exchange terms.
These checks help identify what needs confirmation; they do not guarantee that a transfer is available. Bitunix’s February 12 statement quoted its Chief Strategy Officer, Steven Gu, saying the company continued to follow regulatory developments and work with legal and compliance partners. That is Bitunix’s own statement, not a comment from Upbit or a regulator: Bitunix’s statement.
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