Korea crypto block Hits 27 Sites Including KuCoin and MEXC

The Korea crypto block just moved from app stores to the open web. South Korea's Financial Intelligence Unit (FIU) said on October 13 that regulators approved blocking domestic access to websites run by 27 unregistered virtual asset service providers, including KuCoin, MEXC, Phemex and Bitrue. The decision follows earlier blocks on the same operators' apps on Apple and Google.

What actually happened

According to Cointelegraph, the FIU said the decision followed reviews by the country's media and communications standards regulator on October 6 and 7, after the FIU requested them. Overseas websites get blocked from Korean access, and services hosted domestically are terminated.

"With this decision, blocking measures against illegal virtual asset operators will also apply to internet websites, following apps such as those on Apple and Google," the FIU said, per Cointelegraph's translation.

The Asia Business Daily published the full list: KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, WEEX, BitMart, KCEX, BingX, P2B, Nonkyc.io, SUPEREX, Coin Solution, Sinbad Solution, Xgram, Tapbit, Coinmy, Bigone and Ubit.

Why these exchanges got hit

The rule is simple on paper. Any business serving Korean customers, including overseas operators, has to register with the FIU. The Asia Business Daily says unregistered operators fall outside the Virtual Asset User Protection Act and AML supervision, which leaves users with fewer protections.

Cointelegraph says the FIU judges whether a foreign platform targets Koreans by checking for Korean-language services, marketing aimed at South Korean users, or support for trades in Korean won. Tick those boxes without registering, and you're on the list.

Registered exchanges are already barred from dealing with unregistered ones. When the FIU flags an operator, licensed platforms have to restrict transfers to it. Through joint work with the Digital Asset eXchange Alliance (DAXA) and complaints, the FIU has also referred 44 illegal operators to investigators.

The app block came first

This is the second step in a longer squeeze. Cointelegraph reported in April 2025 that Korea had blocked downloads and updates for 14 unregistered exchange apps on Apple's App Store, after restricting 17 apps on Google Play. The Korea crypto block now extends that to browsers.

First the app, then the website. The direction of travel is not subtle.

KuCoin and MEXC are names our readers see a lot, from KuCoin meme listing runs to THEO on MEXC. For Korean residents, those listing pages just got much harder to reach.

What the FIU says about withdrawals

The regulator is not pretending this is painless. An FIU official, quoted by The Asia Business Daily, said the agency plans to minimize the fallout by working with the operators and DAXA on detailed guidance about withdrawal methods and procedures.

The same official urged investors to check that their platform is registered. If it is not, they should withdraw their assets and deposits and avoid handing the operator private keys, login details or copies of ID documents.

Who is not on the list

The list is specific, and that matters. Big global names that are not among the 27 are not covered by this decision, and we are not going to guess about any of them. If a platform is not in the FIU's announcement, check its registration status directly rather than assuming it is safe or blocked.

Also keep in mind that a block on a website is not a block on the underlying company. Accounts, balances and obligations still exist; what changes is how easily Korean users can reach them.

What to do as a reader

If you are in South Korea and use any of the 27 platforms, plan your exit now while guidance is still being set up. Move assets to a registered exchange or a self-custody wallet you control, and keep records of balances before access gets patchy.

Check the FIU's list of registered providers before you open a new account. Twenty-eight names is a short list, and it is the one that counts.

If you are outside Korea, the Korea crypto block is still worth watching. It's a template other regulators can copy: block apps, then websites, then pressure licensed exchanges to cut transfers. Nothing here is investment or legal advice.