Beware of Upbit Impersonation: How to Check a "VIP Member Benefit" Call or Text

Hello, this is CoinGaja.

On November 10, 2026 Upbit, Korea's largest won-based crypto exchange, announced changes to its terms of use. One change taking effect on December 10, 2026 adds "selection of and benefits for VIP members". Once this starts, scammers may pretend to be Upbit and say "You have been selected as a VIP member." Here is what is good to know in advance.

This does not mean such scams are already spreading. It is a heads-up: they could appear, so know the signs early.

1. What the new Upbit terms say

The revised terms (Article 12-2) that apply from December 10 say:

• Upbit may select members as VIP members based on criteria such as use, trading record and length of membership.
• To tell them about it and the benefits, Upbit may contact them by phone, text message, app push or other means, at the contact details the member registered.
• For benefits that are shipped, Upbit may ask for name, phone number and delivery address.

So a call or text "from Upbit" alone does not tell you whether it is real. That is the gap scammers may try to use.

2. Treat these requests as a red flag

Upbit has said repeatedly in the Korean press that it does not ask for personal information or contact users through personal channels, and that requests for passwords or financial details, unknown app installs and remote control should never be followed. Even if a real contact asks for a name and address for a delivery, never give out your password or verification codes.

3. How to check whether it is really Upbit

1. Do not use the link or phone number in the message. Calling that number back may connect you to the scammer.
2. Open the Upbit app yourself and see whether the same news is in its notices and notification box.
3. If unsure, ask through the customer centre menu in the Upbit app or website (1:1 inquiry). Use the phone number shown there, not the one in the message.
4. If someone rushes you ("the benefit expires today"), stop and check first.

4. If you are suspicious or have lost money

• Report impersonation: Upbit's customer centre 1:1 inquiry has an item for reporting people posing as Upbit staff.
• Suspicious texts (smishing): report to the Korea Internet & Security Agency at 118.
• Already sent money or coins? Call the police at 112 at once and tell your bank and Upbit right away. The sooner, the better the chance of limiting the loss.
• Financial fraud counselling: Financial Supervisory Service 1332.
• If you clicked a link or shared details, change your Upbit password and check that there are no API keys or withdrawal addresses you did not add.

5. Also new that day: Upbit "pockets"

From December 10, Upbit's terms also define the main pocket and sub-pockets that divide one account's assets by purpose. Transfers out of the account are made only from the main pocket, and users create pockets and move assets themselves in the app, website or API settings. If a caller says you must move assets to a sub-pocket to keep them safe, treat that as impersonation too. See Upbit Sub-Pocket in the CoinGaja glossary for details.

This is general information based on Upbit's terms notice of November 10, 2026 and guidance Upbit has given to the press. Please check Upbit's own notices for how the VIP programme actually works.

Thank you.
The CoinGaja team