South Korean crypto exchanges Upbit and Korbit had promised to return transaction fees earned during the Terra-LUNA crisis as compensation to investors. However, the promise seems to be fading with no plans implemented yet by the crypto exchanges or an expert committee, an inquiry revealed.
After the inquiry, Upbit confirms establishing a committee soon to decide the fee amount and other compensations.
South Korean Exchanges To Refund Terra-LUNA Transaction Fees
South Korean institutional and retail investors lose billions during the Terra-LUNA crash. The South Korean exchanges including Upbit and Korbit decided to refund transaction fees and other charges incurred during the crash.
After almost 3 months, Upbit and Korbit are yet to announce any committee to decide the amount and any other commissions for refund, local media SBS BIZ reported on August 10.
Investors lose billions during the Terra-LUNA crash. Crypto exchanges criticized for promoting and marketing Terra’s UST stablecoin and LUNA ahead of the crash. In fact, the South Korean government’s investigations have revealed that UST and LUNA tokens increased massively during the crash.
