Upbit Flags Orchid (OXT) with Trading Warning
On May 12, the prominent South Korean digital asset exchange Upbit issued an official notice, designating the Orchid token (OXT) as a project under trading warning. This action indicates the platform has identified potential risks associated with the asset.
Risk Assessment and Warning Rationale
According to the announcement, Upbit's decision followed a comprehensive, multi-faceted review of the project. The evaluation primarily focused on:
- Adequacy and transparency of material information disclosure
- Real-world existence and long-term sustainability of core operations
- Actual execution progress and deliverables against the project roadmap
The exchange stated that the review revealed significant shortcomings in these key areas for OXT, which could pose threats to user assets. This assessment was conducted in line with best practices supported within the digital asset industry.
Service Adjustments and Warning Period
Concurrent with the warning, Upbit has immediately suspended deposit services for OXT. The trading warning status is scheduled to take effect at 15:00 KST on Tuesday, May 12, 2026, and is expected to remain in place through the final week of May 2026 (May 25-29). The platform will continue monitoring the project's developments and reassessing its risk profile during this period.
Advice for Investors
Upbit advises all users to exercise heightened caution when trading or holding assets listed under warning. Investors are encouraged to conduct their own thorough due diligence on project fundamentals, fully understand potential risks, and make investment decisions aligned with their personal risk tolerance. The exchange recommends users stay informed via its official channels for any further updates.