Upbit Temporarily Suspends Deposits for MaskEx & Xinbi Guarantee

Leading cryptocurrency exchange Upbit has taken a significant step to enhance security by temporarily halting deposits for two platforms: MaskEx and Xinbi Guarantee. This move aims to prevent illegal funds from entering or leaving the platform. The suspension is part of a wider industry trend towards stricter AML (Anti-Money Laundering) and KYC (Know-Your-Customer) protocols, reflecting growing concerns about financial crime in the crypto space.