Guidance on the change of deposit and withdrawal method according to the enforcement of Travel Rule
The deposit and withdrawal method has been changed following the enforcement of the Travel Rule of the Korea Exchange.
1. Running Fox ↔️ Upbit
1) Deposits and withdrawals of less than 1 million KRW between Running Fox and Upbit are possible in the same way as before.
2) For more than 1 million KRW, if you use a metamask (individual wallet), you can make a deposit and withdrawal without any limit.
- Metamask Homepage : https://metamask.io/
- Metamask Guideline : https://blog.naver.com/shiaru/222664213596
- How to register metamask to Upbit : https://upbitcs.zendesk.com/hc/ko/articles/5047349242905
2. Binance ↔️ Upbit
1) Deposits and withdrawals of less than 1 million KRW between Binance and Upbit are possible in the same way as before.
2) For more than 1 millino KRW, the deposit and withdrawal will be provided to the account wallet after checking whether your Binance account information is matched through the account holder verification service of VerifyVASP(VV) at Upbit.
- Add the Binance to Upbit's Exchange list where deposits and withdrawals are possible : https://upbit.com/service_center/notice?id=2546
- Deposit and withdraw Guideline : https://upbitcs.zendesk.com/hc/ko/articles/5162388797337
3. Binance ↔️ Bithumb
When registering the Binance on Bithumb's white list, you can make a deposit and withdrawal regardless of the amount.
Currently, with the initial implementation of the Travel Rule, the amount of less than 1 million KRW must be registered in the white list for deposit and withdrawal, but it plan to cancel it later.
- Travel Rule Enforcement Notice : https://cafe.bithumb.com/view/board-contents/1642762
- Travel Rule Guideline : https://www.bithumb.com/customer_support/info_guide?categorySeq=901
4. How to deposit and withdraw
1) Deposit to Runing Fox
* Upbit → Metamask (Registered at Upbit) → Running Fox
* Upbit → Binance (Registered in the account holder verification service of Upbit) → Running Fox
* Bithumb → Binance (Registered the white list of Bithumb) → Running Fox
2) Withdraw from Running Fox
*When you withdraw from Running Fox to Upbit, you can proceed it as opposed to the deposit method.
*In case of withdraw to Bithumb, You freely withdrawn direct.
Since the Enforcement of Travel Rule in the Korea, it has become possible to make deposits and withdrawals only to registered wallet address.
So we ask for your understanding that it has caused inconvenience to Korean users who use Running Fox.
Running Fox is discussing ways to make it easier to make deposits and withdrawals with Korea's exchanges, and we will let you know through announcements when it is updated.
Thank you for the support and consideration of Running Fox users.
Risk warning: Futures trading is a highly risky endeavor, with the potential for both great profits and significant losses. Please be aware that in the event of extreme price movement, there is a chance that all margin balance in your futures wallet may be liquidated.
Running Fox Team