South Korean authorities have approved measures to block access from inside the country to 27 websites. The sites belong to crypto exchanges and other virtual asset service providers that are not registered in South Korea. KuCoin, MEXC, Phemex and Bitrue are among the names on the list. Cointelegraph reported the decision on Oct 13, 2026.
The authorities said the reason for the blocks is that these exchanges are unregistered. They also said openly that customers may have trouble withdrawing their assets from the affected platforms. The report did not say how many South Korean users these platforms have or how much money they hold.
The report also leaves several things unclear. It does not give a date for when the blocks take effect, does not name the other 23 sites, and does not include any response from MEXC, KuCoin, Phemex or Bitrue.
Of the four exchanges Perp Desk tracks, only MEXC is on the list. Bitget, Bybit and OKX are not mentioned. The report says nothing about MEXC's funding rates, trading fees or perpetual futures liquidity, so for most people holding a MEXC perpetual, nothing changes directly. The exception is anyone who reaches MEXC from South Korea. The authorities themselves have said withdrawals could become difficult for those customers, and the report does not say what happens to their open positions.
Source: cointelegraph — South Korea moves to block 27 crypto websites, including KuCoin, MEXC