Upbit, Bithumb, and Coinone, South Korea’s leading cryptocurrency exchanges, announced that they have added the KernelDAO (KERNEL) token to their delisting watchlist. This decision follows a joint review process aimed at enhancing investor protection.
Upbit said in the announcement that this decision was based on two main reasons. The first is a security incident or potential attack risk that has occurred in a project-managed wallet or distributed ledger infrastructure and has not yet been fully resolved.
The second reason is that a comprehensive review of the project’s business model, sustainability, and development process revealed potential risks to users.
The exchange emphasized that assets placed on the watch list will be subject to stricter monitoring for a certain period of time. During this process, criteria such as the project’s level of transparency, technological advancements, and community communication are carefully monitored. As a result of the review, it is stated that if the necessary improvements are not made, the KERNEL token may be completely delisted.
Experts say these coordinated measures by South Korea’s main stock exchanges are aimed at strengthening market discipline and protecting investors from risky projects. In particular, stock exchanges are tightening their listing policies due to recent heightened security concerns and discussions about project sustainability.
*This is not investment advice.
