902 Upbit Members Donate Cryptocurrency Worth 160 Million KRW to Ukraine

[Asia Economy Reporter Lee Jung-yoon] Domestic cryptocurrency exchange Upbit announced on the 22nd that 902 members donated cryptocurrency worth approximately 160 million KRW to Ukraine.

Earlier, Upbit stated that it would cover all withdrawal fees for members participating in digital asset donations wishing for peace in Ukraine.

During the support period until the 20th of this month, 902 Upbit members participated in the donation. The amount, based on Upbit's closing price on the 20th, is about 160 million KRW. The average donation per person is approximately 180,000 KRW.

Upbit plans to refund the withdrawal fees to the donors within this month. The amount converted to Korean won is about 48 million KRW. Additionally, Upbit will issue non-fungible tokens (NFTs) to members as proof of their donation to Ukraine in the future.