Upbit
Centralized exchange- Spot fee
- 0.05%
- Coins with a halal verdict
- 1
- of those listed here
- Available in
- 0 of 20
- countries we track
- Checked
- Sep 27, 2026
Reliability
6.5/ 10
Score updated
- Proof of reserves7.0
- Licences7.0
- Incident history6.0
- Segregation of funds7.0
- Insurance fund5.0
- Security practices6.0
Liberandum halal verdict
Suitable with care
Upbit is South Korea's largest exchange and offers plain spot trading with full settlement, but it serves only Korean residents with a real-name K Bank account (plus separate local platforms in Indonesia and Singapore). It has no Shariah-certified product or Shariah token screening, and its 2025 hot-wallet hack and AML sanctions call for care.
Use
- Spot trading on KRW, BTC, USDT markets
- Coins checked on Liberandum
Avoid
- Crypto lending (interest-based)
- Margin, leverage, derivatives
More details
Spot trading on Upbit's KRW, BTC and USDT markets settles immediately, which fits the AAOIFI requirement for immediate exchange of currencies (Shariah Standard No. 1) and the rules on the sale of commodities in organized markets (Shariah Standard No. 20). Any margin, leveraged or derivative product fails these standards, and fixed-yield lending is riba. In mid-2025 Upbit, like Bithumb, launched crypto lending products; the Financial Services Commission ordered exchanges to suspend lending on 19 August 2025 and issued guidelines on 5 September 2025 (20% interest cap, no loans above collateral value). A Muslim user should not use lending or any reward product whose structure is unclear. Upbit has no Islamic account, no Shariah-certified earn product and no Shariah screening of listed tokens, so each coin must be checked separately. Reliability is moderate (6.5/10). Positives: an external accounting firm has audited customer deposits and crypto holdings quarterly since October 2018 (April 2024 report: 103.15% of KRW deposits and 102.82% of virtual assets); Korean law since July 2024 requires segregated customer KRW deposits at a bank, at least 80% of customer crypto in cold wallets and insurance or reserves covering at least 5% of hot-wallet assets; Upbit said in July 2024 that it keeps over 80% of customer crypto in cold wallets. Negatives: on 27 November 2025 about 44.5 billion won in Solana-based assets was drained from a hot wallet in 54 minutes (Lazarus suspected); Dunamu covered the 38.6 billion won customer loss from its own reserves, and in July 2026 the FSS sent Dunamu an inspection report, the first step of a sanction procedure (no final penalty as of September 2026). In February 2025 the FIU ordered a three-month partial suspension (new customers' external transfers) over KYC failures, and in November 2025 it fined Dunamu 35.2 billion won for about 5.3 million customer-verification breaches. Availability: the Korean platform requires Korean mobile verification and a K Bank real-name account, so it is effectively closed to non-residents. Upbit Indonesia (OJK-licensed, March 2025) and Upbit Singapore (MAS Major Payment Institution) are separate platforms.
How to use Upbit the halal way
What is allowed and what to avoid on this exchange
- Allowed
Spot
Spot orders settle immediately
- Allowed
Convert
Instant swap, settles like spot
- With care
Staking
No Shariah-certified staking
- Avoid
Savings and Earn
Crypto lending suspended by regulator, interest-based
- Avoid
Margin
Margin trading not Shariah-compliant
- Avoid
Futures and options
Leveraged and derivative products fail standards
- Avoid
Loans
Interest-based; suspended by FSC in 2025
- Avoid
Structured products
Fixed return, not certified
No dedicated halal product
Upbit offers no Islamic (swap-free) account and no Shariah-certified earn or staking product. The crypto lending product it launched in 2025 was suspended on the Financial Services Commission's order of 19 August 2025 and is interest-based, so it is not a halal alternative.
No token screening
Upbit does not screen listed tokens for Shariah compliance. Its listing review follows Korean regulation, which is not Shariah screening. Check every coin's halal status on Liberandum before buying.
Step by step
How to trade halal on Upbit
Sign up and complete Korean real-name verification
Register in the Upbit app with Korean mobile verification, complete identity verification and link a K Bank account in your own name. Without a Korean real-name bank account you cannot deposit or withdraw KRW. Residents of Indonesia use the separate Upbit Indonesia platform instead.
Deposit KRW from K Bank
Use the Deposit/Withdrawal section (입출금) to move KRW from your linked K Bank account. Keep cash in a non-interest current account; do not park funds in interest-bearing savings products while waiting to trade.
Buy on the spot market only
Trade in the Exchange section (거래소) on the KRW market. Spot orders settle immediately and in full, which is the form of exchange permitted by AAOIFI Shariah Standard No. 1.
Avoid lending and leveraged products
Do not use crypto lending (introduced in 2025 and restricted by the FSC), any borrowed or leveraged position, or reward and staking offers whose return is a fixed, promised yield. Fixed-yield lending is riba.
Check each coin on Liberandum
Upbit does not screen tokens for Shariah compliance. Before buying, check the coin's halal status and ISRA position on Liberandum; avoid coins tied to interest-based lending, gambling or other prohibited activity.
Withdraw to self-custody
For long-term holding, withdraw to a wallet you control. Korean travel-rule procedures apply to withdrawals, so register your personal wallet address when the app asks for it.
Availability
Where Upbit serves users and under which licence
Your country:Choose your country
- BHBahrain
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- AFAfghanistanno data
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- Country not found
Choose your country to see availability
Not available in United Arab Emirates
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Saudi Arabia
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Qatar
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Kuwait
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Bahrain
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Oman
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Jordan
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Egypt
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Morocco
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Türkiye
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Restricted in Indonesia
- Licence
- Only via the separate platform of PT Upbit Exchange Indonesia, licensed by OJK as a digital financial asset trader (KEP-6/D.07/2025, 17 March 2025). Upbit Korea itself is not available.
- KYC
- Full KYC under Indonesian rules on the Upbit Indonesia platform; requirements not verified in detail
- Local currency
- IDR on the Upbit Indonesia platform (on-ramp details not verified)
Not available in Malaysia
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Pakistan
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Bangladesh
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Kazakhstan
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Uzbekistan
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in Nigeria
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in United Kingdom
- Licence
- No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
Not available in United States
- Licence
- No US licence; Upbit does not serve US residents.
- KYC
- Not applicable
Not available in European Union
- Licence
- No MiCA authorisation. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KYC
- Korean real-name verification, Korean mobile number and linked K Bank account required
- AEUnited Arab EmiratesUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- SASaudi ArabiaUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- QAQatarUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KWKuwaitUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- BHBahrainUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- OMOmanUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- JOJordanUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- EGEgyptUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- MAMoroccoUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- TRTürkiyeUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- IDIndonesiaRestricted
Only via the separate platform of PT Upbit Exchange Indonesia, licensed by OJK as a digital financial asset trader (KEP-6/D.07/2025, 17 March 2025). Upbit Korea itself is not available.
- MYMalaysiaUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- PKPakistanUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- BDBangladeshUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- KZKazakhstanUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- UZUzbekistanUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- NGNigeriaUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- GBUnited KingdomUnavailable
No local licence. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
- USUnited StatesUnavailable
No US licence; Upbit does not serve US residents.
- EUEuropean UnionUnavailable
No MiCA authorisation. Upbit Korea serves only users with Korean mobile verification and a K Bank real-name account.
Presence by country
- AEUnited Arab EmiratesNo UAE licence; Upbit Korea is limited to Korean real-name account holders.Unavailable
- SASaudi ArabiaNo Saudi licence; Upbit Korea is limited to Korean real-name account holders.Unavailable
- TRTürkiyeNo Turkish licence; Upbit Korea is limited to Korean real-name account holders.Unavailable
- IDIndonesiaPT Upbit Exchange Indonesia: OJK digital financial asset trader licence KEP-6/D.07/2025, 17 March 2025; separate platform.Licensed
- MYMalaysiaNo Securities Commission Malaysia registration; Upbit Korea is limited to Korean real-name account holders.Unavailable
Reliability in detail
Overall 6.5 of 10
Proof of reserves
7.0An external accounting firm has audited customer KRW deposits and crypto holdings quarterly since October 2018, with reports posted publicly. The April 2024 report showed 103.15% of KRW deposits and 102.82% of virtual assets. Quarterly rather than monthly, and the auditor's name was not confirmed.
Licences
7.0Dunamu is registered with Korea's FIU as a virtual asset service provider; its renewal was delayed during the 2025 KYC probe. Upbit Singapore holds a MAS Major Payment Institution licence for digital payment token services, and PT Upbit Exchange Indonesia an OJK digital financial asset trader licence (March 2025).
Incident history
6.0On 27 November 2025 about 44.5 billion won in Solana-based assets left a hot wallet (Lazarus suspected); Dunamu covered the 38.6 billion won customer loss from reserves. FSS sanction procedure opened July 2026. FIU: three-month partial suspension (February 2025) and a 35.2 billion won fine (November 2025) for about 5.3 million KYC breaches.
Segregation of funds
7.0The Virtual Asset User Protection Act (in force 19 July 2024) requires customer deposits to be kept separate from company assets and entrusted to a bank, and customer crypto to be kept apart from company assets. Quarterly external audits confirm reserves above 100%; a specific segregation audit opinion was not found.
Insurance fund
5.0Korean law requires insurance or reserves covering at least 5% of hot-wallet assets. Dunamu used its operating reserves to repay the November 2025 hack. The size and addresses of a dedicated protection fund are not disclosed.
Security practices
6.0Upbit said in July 2024 that it keeps over 80% of customer crypto in cold wallets (the legal minimum since July 2024). The November 2025 hack exposed weak signature generation in its hot-wallet infrastructure; remaining hot-wallet assets were moved to cold storage. External security certifications were not confirmed.
Fees
Spot trading, deposits and withdrawals
Spot trading
0.05% maker · 0.05% taker
KRW market reported at 0.05% maker and taker; BTC and USDT markets reported at 0.2-0.25%. No exchange-token discount. Secondary sources only, not confirmed on Upbit's fee page.
Deposits
KRW deposits from the linked K Bank account and crypto deposits are reported to be free.
Withdrawals
Fixed per-coin network fees. KRW withdrawals go only to the linked K Bank account. Check the current fee in the app before withdrawing.
Halal coins you can buy on Upbit
Coins with a halal verdict listed on this exchange
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