Upbit Announces Delisting of Synthetix (SNX): Timeline and User Instructions
South Korean cryptocurrency exchange Upbit has notified users of its decision to remove support for Synthetix (SNX), the native token of the decentralized synthetic asset protocol. The exchange will phase out all services related to this asset according to a published schedule.
Delisting Schedule and Affected Markets
The key dates for this process are as follows:
- Trading Halt: September 28, 2023, at 14:00 (UTC+9)
- Withdrawal Deadline: October 28, 2023
The removal applies specifically to the SNX/BTC trading pair. Following September 28, all buy and sell orders for SNX will be disabled on the Upbit platform.
Required Actions for SNX Holders
Users holding SNX on Upbit must withdraw their tokens to an external compatible wallet or another exchange on or before October 28, 2023.
The exchange emphasized that the withdrawal function for SNX will be terminated after the deadline. Assets remaining in user accounts past this date may become inaccessible and non-recoverable. It is advisable to complete withdrawals well in advance to avoid potential delays due to network congestion near the cutoff.
Exchange delistings typically result from periodic reviews considering factors like project development, liquidity, regulatory compliance, and user demand. While a specific reason was not provided in this announcement, it serves as a reminder for investors to monitor the exchange status of their digital asset holdings.