Upbit to Delist Three Cryptocurrencies in September
In a recent update, Upbit, a leading cryptocurrency exchange in South Korea, has announced the removal of several digital assets from its trading platform. Effective September 14, 2023, support for Jasmy (JASMY), ThunderCore (TT), and STORJ will be discontinued.
Delisting Schedule and Key Dates
The process will be carried out in phases to allow users time to adjust:
- Trading Halt: All trading pairs for JASMY, TT, and STORJ will be suspended precisely at 12:00 PM Korean Standard Time on September 14.
- Deposit Closure: Following the trading halt, deposit functions for these tokens will also be disabled. Users are advised not to attempt further deposits into Upbit wallets.
- Withdrawal Window: Users will retain the ability to withdraw their assets to external wallets for a limited period after trading ceases. The exact deadline for withdrawals will be communicated in a separate notice.
Implications and Steps for Token Holders
If you hold any of the affected tokens on Upbit, it's important to act promptly.
Review your account balances for JASMY, TT, or STORJ. Should you wish to maintain your holdings, ensure you transfer them to a private wallet or another supporting exchange before the September 14 deadline. If you plan to sell, complete all trades well in advance of the cutoff time.
Exchange delistings can occur for various reasons, including regulatory concerns, low liquidity, or shifts in project development. This event underscores the importance of staying informed about the exchange status and fundamental health of the crypto assets in your portfolio.