Coinone

South Korean won-paired crypto exchange founded in 2014 by white hat hacker Myunghun Cha

Exchange KYC required Founded 2014 South Korea
Visit coinone.co.kr
Our score
Fair
KYC required Yes
Accepts US customers No

What is Coinone?

Coinone is a South Korean centralized cryptocurrency spot exchange operating Korean won order books. Founded in 2014, the exchange operates under South Korea's regulatory framework for digital asset providers, connecting domestic banking rails with spot crypto markets.

Leadership and backing

Coinone, Inc. is headquartered in Seoul and was established by Founder and Chairman Myunghun Cha, a computer science graduate from Postech and former competitive white hat hacker with honors from DEFCON CTF and Codegate. Cha holds management control with a 27.8% equity stake, alongside game publisher Com2uS Holdings with 25%. In May 2026, OKX Ventures and Korea Investment & Securities each acquired 19.6% stakes through a combined 160 billion won ($106 million) investment. Kakao Ventures is also an early backer of the firm.

Trading mechanics and features

The platform runs an order-book spot exchange centered around KRW trading pairs. Users trade digital assets through a web terminal or programmatic interfaces. Developer access includes Public REST API V2, Private REST API V2.1, and streaming Websockets for live order-book depth, price tickers, and automated trade execution. The platform includes an integrated Coinone Wallet securing deposits and withdrawals with multi-signature architectures. Coinone also manages periodic promotions, including zero-fee campaigns on pairs like RLUSD/KRW and balance-holding incentives.

Regulatory status and security history

Coinone is registered as a Virtual Asset Service Provider (VASP) under South Korea's Financial Intelligence Unit (FIU), with financial audits conducted by accounting firm DongHaeng in 2022. In October 2026, 24-hour spot trading volumes reached roughly $168M. In April 2026, the FIU issued a 5.2 billion won ($3.49 million) penalty and a three-month partial business suspension over violations of the Specific Financial Information Act, finding identity verification failures across roughly 70,000 cases and processing transactions with 16 unregistered offshore exchanges.

Risks and availability

Coinone is available in South Korea and selected Asian markets, and does not accept US customers. Trading is spot-only, without crypto derivatives or margin leverage. Users face centralized exchange custodial risks and mandatory identity verification.

Founders

Myunghun ChaFounder & Chairman

Computer science graduate from Postech and white hat hacker who competed in DEFCON CTF and Codegate.

Best for:South Korean retail spot tradersAlgorithmic traders using KRW pairsInvestors requiring local banking integration

Pros and cons

Pros

  • Registered VASP regulated under South Korea's Financial Intelligence Unit
  • Backing from OKX Ventures and Korea Investment & Securities totaling $106 million
  • Over a decade of operating history dating back to 2014
  • REST and WebSocket APIs for automated trading

Cons

  • Restricted primarily to South Korean residents with local bank verification
  • Fined 5.2 billion won in April 2026 for anti-money laundering compliance breaches
  • No futures, options, margin trading, or leverage offered
  • Centralized custody model exposes user deposits to counterparty risk

Our review

3.2/5
Fair

Coinone provides established South Korean won spot trading backed by domestic institutional capital, but strict local AML rules, a lack of derivatives, and recent regulatory penalties limit international appeal.

Fees3.0
Security & trust3.0
Asset selection3.5
Ease of use3.5
Support3.0

Founded in 2014 by white hat hacker Myunghun Cha, Founded in 2014, Coinone is a South Korean digital asset platform. Based in Seoul, the exchange operates under South Korea's Financial Intelligence Unit (FIU) as a registered Virtual Asset Service Provider (VASP). In May 2026, the company strengthened its institutional backing with a combined 160 billion won ($106 million) investment from OKX Ventures and Korea Investment & Securities, which each acquired 19.6% equity stakes while Cha retained controlling ownership with 27.8%.

Coinone focuses on KRW-denominated spot trading and custody. Its 24-hour spot volume reached approximately $168M in October 2026. The exchange caters primarily to the domestic South Korean market, offering orderbook execution, public and private REST APIs (V2 and V2.1), and Websocket connectivity for automated systems. Coinone does not offer crypto derivatives or margin trading.

Prospective traders must weigh several regulatory and operational factors:

  • Strong institutional backing from Korea Investment & Securities, OKX Ventures, and Com2uS Holdings, alongside domestic VASP registration.
  • Public REST API V2, Private REST API V2.1, multi-signature internal wallet infrastructure, and a DongHaeng audit in 2022.
  • Significant regulatory enforcement in April 2026, when the FIU fined Coinone 5.2 billion won ($3.49 million) and imposed a three-month partial business suspension for failing to verify identities in roughly 70,000 cases and processing transfers with 16 unregistered overseas platforms.
  • Tight geographic focus that excludes US traders and enforces rigorous identity verification through domestic banking partners.
Listings are researched and drafted with AI assistance from public sources, then checked for accuracy and readability. Spot an error? Tell us. Editorial policy.
Sources (2)

Specs

Markets Spot · unverified
KYC required ⓘ Yes · unverified
Accepts US customers No · unverified
Licenses & registrations South Korea FIU VASP · unverified
Futures & perpetuals No · unverified
Copy trading No · unverified
P2P market No · unverified

Not disclosed by the provider: Maker fee, Taker fee, Coins listed, Fiat deposit methods, Proof of reserves, Staking / earn, Mobile app, Security features, Max leverage (x), Earn / savings products, User protection fund, Referral program.

Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.

Key features

KRW spot order books

Executes spot trading directly against the South Korean won across listed digital assets.

Developer APIs and websockets

Provides REST API V2.1 and WebSocket feeds for live market data, order placement, and balance checks.

Coinone Wallet infrastructure

Secures stored digital assets using multi-signature key architecture for on-chain deposits and withdrawals.

Promotional fee structures

Runs targeted zero-fee trading windows and balance-holding rewards on select assets such as RLUSD.

Inside Coinone

Spot Exchange

The core orderbook platform providing KRW-denominated spot trading pairs, trade charts, and order management.

Open API

Provides public and private REST endpoints alongside Websockets for real-time tickers, orderbooks, balance checks, and automated order execution.

Coinone Wallet

An integrated digital asset storage solution supporting multi-signature security, asset deposits, and withdrawals.

User reviews

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Funding and investors

$106MTotal raised
1Round
2Investors
  1. Strategic May 2026 $53M
    Source

FAQ

Who founded Coinone?

Coinone was founded in 2014 by Myunghun Cha, a computer science graduate from Postech and former competitive white hat hacker. Cha serves as Chairman and holds a 27.8% controlling stake in the company.

Is KYC required to trade on Coinone?

Yes, Coinone requires strict identity verification in compliance with South Korea's Act on Reporting and Using Specified Financial Transaction Information. Users must verify their real-name identities.

Can US residents trade on Coinone?

No, Coinone does not accept customers from the United States. The exchange operates under South Korean regulations and focuses on domestic and authorized Asian market participants.

Has Coinone faced any regulatory actions?

In April 2026, South Korea's Financial Intelligence Unit fined Coinone 5.2 billion won ($3.49 million) and issued a three-month partial business suspension. The sanctions followed AML violations involving unverified user accounts and transactions with 16 unregistered offshore exchanges.

Does Coinone offer futures or leverage trading?

No, Coinone is strictly a spot exchange. It provides KRW-paired spot orderbooks and does not offer derivatives, perpetual futures, or leveraged products.

Latest from Coinone on X

Coinone
@CoinoneOfficial · 30.6K followers
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Coinone이 글로벌 Web3 데이터 플랫폼 RootData(@RootDataCrypto)와 협업을 시작합니다.

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가상자산 시장과 프로젝트 관련 정보가 빠르게 변화하는 만큼, 다양한 데이터 소스를 활용해 필요한 정보를 보다 신속하고 체계적으로 확인할 수 있는 기반을 넓혀가고자 합니다.

향후 코인원이 제공하는 가상자산 설명서에 RootData 데이터가 활용되는 경우에는 “Data Provided by RootData” 문구를 함께 표기해 데이터 출처를 안내할 예정입니다.

앞으로도 다양한 데이터와 내부 리서치를 바탕으로 이용자들이 가상자산 관련 정보를 보다 쉽게 이해하고 투자할 수 있도록 정보 제공 역량을 지속적으로 강화해 나가겠습니다!

Coinone is partnering with global Web3 data platform RootData.

Through this collaboration, Coinone will reference RootData’s project and market data across various areas, including research, market monitoring, and asset listing reviews.

As the crypto market continues to evolve rapidly, we’re expanding the range of data sources we use to better track and understand projects and market developments.

Going forward, where RootData’s data is used in Coinone’s virtual asset reports, we will include the label “Data Provided by RootData” to clearly indicate the source.

By combining diverse data sources with our internal research, we’ll continue to make digital asset information more accessible and easier for our users to understand.
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🤝 코인원에 한국투자증권과 OKX벤처스가 동시에 투자했어요.

이번 주 코인 시장 주요 이슈, 빠르게 짚어드릴게요👇 https://t.co/V28GcEFHE9
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📣[ZERO 트레이딩 챌린지] 수수료는 빼고 RLUSD 혜택만 담았어요!

수수료는 ZERO! 일별로 RLUSD 1만 원 이상 거래하면 전원 100% 혜택!
- 참여 기간: 2026.03.24.(화) 거래개시 이후 ~ 03.27.(금) 23:59

자세한 내용은 https://t.co/pFrS2biqrc를 참고해주세요.
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📣[RLUSD 홀더 지원금] 기간 한정! 연 10%의 혜택을 놓치지 마세요!

홀더 지원금이란, 코인원에서 RLUSD 홀더가 되면 받을 수 있는 지원금이예요.
- 신청 방법 : 이벤트 코드 등록하면 신청완료!
- 참여 방법 : RLUSD 홀더 되기

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📣리플유에스디(RLUSD) 거래 수수료 무료 시행 안내

코인원에서 리플유에스디(RLUSD)의 거래 수수료율 0%를 적용합니다.
- 적용 일시: 2026년 3월 24일(화) 거래 개시 이후 ~ 별도 공지 시

자세한 사항은 https://t.co/4aDR3Pg9AH를 참고해주세요. https://t.co/fDbiqI6Ydr
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