Upbit Removes Ravencoin (RVN) from Its Platform
Leading South Korean crypto exchange Upbit has confirmed the delisting of Ravencoin (RVN). Trading for all RVN pairs—RVN/KRW, RVN/BTC, and RVN/USDT—will cease on October 12 at 15:00 Korea Standard Time.
Why RVN Was Delisted: Security Concerns Take Center Stage
This move follows a period of heightened scrutiny. Upbit had previously designated RVN as a "Caution Asset" on August 11, flagging potential issues. After further review, the exchange concluded that certain risk factors surrounding the asset remained unresolved.
The announcement pointed to past security incidents on the Ravencoin network that could have exposed users to potential losses. Citing its internal delisting policy and the need to protect investors, Upbit decided to terminate support for the token.
Critical Deadlines for RVN Holders
If you hold RVN on Upbit, marking these dates on your calendar is essential:
- Trading Halt: All open RVN buy/sell orders will be automatically canceled after October 12, 15:00 KST.
- Withdrawal Period: A 30-day window for withdrawing RVN balances will be available. You must complete all withdrawals by November 11.
- Next Steps: After the withdrawal deadline passes, Upbit will no longer support any RVN-related operations. Users are advised to act promptly to avoid last-minute network congestion or processing delays.
This delisting underscores that exchanges continuously monitor listed projects post-launch. For investors, staying informed about an asset's standing on their chosen platform is a crucial part of portfolio management.