Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, has donated 5 BTC—equivalent to approximately 800 million KRW—for flood relief efforts in the Chungcheong and Honam regions. This gesture aims to support those affected by the recent torrential rains and demonstrates the growing potential of digital assets in contributing to social good.
The donation was made through the Community Chest of Korea (also known as “Fruit of Love”), and will be used to provide emergency supplies, temporary housing, replacement of damaged home appliances, and restoration of welfare facilities for flood victims. A Dunamu spokesperson stated, “We wanted to offer practical support to help residents return to their daily lives as quickly as possible.”
CEO Oh Kyung-seok emphasized, “We hope this becomes a meaningful step toward expanding the positive influence of digital assets across society,” adding that the company remains committed to its role in fulfilling social responsibilities through ongoing initiatives.
This move is seen as more than just a charitable donation—it highlights how blockchain-based digital assets can be used transparently and swiftly in times of crisis. Unlike traditional fiat currency, cryptocurrency allows for rapid and traceable transactions, offering a glimpse into the future of disaster relief funding.
According to the Central Disaster and Safety Countermeasure Headquarters, as of July 17, the heavy downpours have resulted in four deaths and the emergency evacuation of over 1,300 people. Widespread damage to homes, farmland, and infrastructure has been reported, prompting the government to escalate disaster response levels and accelerate recovery operations.
Upbit’s donation not only provides much-needed aid but also showcases how crypto can evolve into a tool for social impact in times of urgent need.
