Beware of Market Support Scams Impersonating Upbit Employees or Internal Connections

Dear Upbit users,

Recently, there have been multiple reports, especially from overseas projects, of scammers impersonating Upbit employees or claiming internal connections with Upbit to request payments under the pretense of providing market support (listing) services.

These individuals falsely claim to be associated with Upbit or its employees and demand monetary compensation in the form of USD stablecoins or project tokens.

Upbit confirms these claims and actions are scams.Upbit has never engaged any external brokers, agents, or consultants for market support discussions, nor has it received or requested any monetary or digital asset payments in relation to market support.

Scam Cases

According to recent reports, impersonation scams targeting overseas projects commonly exhibit the following patterns:

1. Individuals approach project teams claiming to have “internal connections at Upbit” or to “guarantee KRW market support.”
2. They demand payments ranging from 1 to 10 million USD, either in stablecoins or project tokens.
3. They make false claims such as “joint market support with other exchanges (e.g., Binance).”
4. They present fake timelines, saying that “Upbit’s market support announcement will be published within 24 hours after payment.”

Scammers used aliases such as “Cherry” or “Mike,” pretending to be working in collaboration with Upbit employees or internal members of other exchanges.

• All market support evaluations and decisions at Upbit are made independently through official internal review procedures.
• Upbit strictly prohibits any form of representation, brokerage, or mediation by individuals or organizations in the market support process.
• Any request or offer involving monetary payment, tokens, or other compensation related to market support constitutes illegal activity and is highly likely to be an external fraud unrelated to Upbit.
• Upbit is actively monitoring such impersonation cases and pursuing legal actions against those involved.

Reporting Scams

Upbit seeks the cooperation of the global blockchain community to identify and prevent such fraudulent activities at an early stage.

• Report Targets
  • Any act of impersonating Upbit or its employees to demand compensation or request payment in exchange for market support
• Information to Provide
  • Conversation records (screenshots or chat logs)
  • Wallet addresses, payment details, or identification information of the involved individuals
• Reward
  • If the report is verified and provides decisive evidence leading to internal action or investigation by external authorities,Up to 1 BTC will be rewarded to the reporter.
• How to Report
  • Upbit > Support Center > Policies > Market Support Policy > Report Market Support Scam
  • All reports will be kept strictly confidential, and reporter identities will be fully protected.

Important Notice

• Upbit never requests monetary compensation, external broker involvement, or personal connections in relation to market support.
• If you receive messages such as “guaranteed listing,” “internal contact at Upbit,” or similar claims,stop all communication immediately and report the incident through the channels above.
• All official announcements regarding market support or partnerships are only released through Upbit’s official website and verified SNS channels.

Upbit values the trust of its investors and project partners above all else.We are committed to maintaining a transparent and fair market support process and to preventing illegal brokerage or impersonation activities in the digital asset ecosystem.

Thank you.