Has deubiquitinating activity towards ‘Lys-48’- and ‘Lys-63’-linked polyubiquitin chains. Deubiquitinates ‘Lys-48’-linked polyubiquitination of RPS7 leading to its stabilization (PubMed:28483520). Exhibits palmitoyl protein thioesterase (S-depalmitoylation) activity towards synthetic substrates 4-methylumbelliferyl-6-S-palmitoyl-beta-D-glucopyranoside and S-depalmitoylation probe 5 (DPP-5) (PubMed:35427157).