Dunamu Shakes Up Crypto Security: Upbit Operator Launches Institutional-Grade Cold Wallet Custody
Crypto just got a Fort Knox upgrade. Dunamu—the brains behind South Korea's largest exchange Upbit—just dropped cold wallet custody for institutions. Finally, hedge funds can stop stuffing digital assets under virtual mattresses.
Cold wallets meet hot demand
The move targets whales swimming in Korea's $160B crypto market. Dunamu's solution yanks private keys offline—where they can't get hacked, phished, or 'accidentally' sent to some dev's girlfriend like that one exchange we won't name.
Wall Street-grade security comes knocking
This isn't your cousin's Trezor. Think multi-sig approvals, air-gapped storage, and audit trails so thorough even the SEC might nod approvingly (before demanding a 300% fee increase). Institutions get the vault treatment while retail traders still pray their hot wallet doesn't get drained.
The irony? Banks still call crypto risky while paying $26B yearly in compliance fines. Maybe they're jealous the blockchain actually remembers where the money went.
Dunamu Offers Tailored Wallet Options For Custody
Institutions can customize wallet setups by asset type and purpose, enabling more structured asset management, streamlined accounting, and improved audit readiness.
Role-based access controls and approval workflows further align the service with corporate governance and internal control standards.
The custody platform also integrates advanced anti-money laundering and fraud detection tools to monitor transactions in real time and flag suspicious flows.
“In VIRTUAL asset custody, the key is ensuring accountability, technical stability, and procedural transparency,” an Upbit spokesperson told The Korea Times, highlighting that the platform’s security measures are designed to prevent both internal mishandling and external breaches.
The official added that Upbit Custody meets legal compliance standards and incorporates robust internal controls and audit systems, positioning it to deliver services in line with global institutional requirements.
As reported, Dunamu has signed a memorandum of understanding with Vietnam’s Military Bank (MB Bank) to launch the country’s first cryptocurrency exchange.
The deal, finalized on Tuesday, marks a major milestone for Vietnam’s digital asset market following its recent legalization of crypto. Dunamu will provide its Korean exchange model and technology for the initiative.
As part of the partnership, Dunamu will advise MB Bank on regulatory compliance, investor protection, and talent development.
“MB and Upbit will work together as trusted partners to advance Vietnam’s digital finance market,” said MB Bank Chair Luu Trung Thai.
Vietnam’s crypto sector gained clarity in June with the passage of the Law on Digital Technology Industry, which defines and regulates digital assets. The move followed years of uncertainty and Financial Action Task Force scrutiny over weak anti-money laundering controls.
Korea’s FSC Eyes Spot Crypto ETFs
As reported, South Korea’s Financial Services Commission (FSC) has presented a roadmap to the Presidential Committee on Policy Planning proposing the approval of spot crypto ETFs.
The MOVE came after President Lee Jae-myung’s campaign promise to modernize digital asset rules and boost opportunities for younger investors.
South Korea’s FSC has submitted a roadmap outlining a potential framework to approve spot cryptocurrency ETFs.#SouthKorea #ETFshttps://t.co/A0gQDo2y0V
The plan outlines implementation measures for spot crypto ETFs and regulatory frameworks for won-based stablecoins in the second half of 2025.
Historically, the FSC blocked crypto ETFs over volatility and financial risk concerns, maintaining that cryptocurrencies were unsuitable as underlying assets.
