Upbit, a leading South Korean cryptocurrency exchange, has temporarily suspended FLOW deposits and withdrawals after indicators of a security incident on the Flow mainnet. The measure, effective December 27, prioritizes user protection as investigators assess the incident; a precise resumption timeline will be communicated by Upbit once clearance is obtained.
Separately, the Digital Asset Exchange Association of Korea (DAXA) issued a Trading Risk Warning for FLOW, noting confirmed signs of a security issue on the Flow mainnet. Depending on the investigation’s progress, DAXA may designate a trading caution target or, in a more restrictive scenario, terminate trading support for the token.
Market participants should monitor official updates from Upbit and DAXA, review risk controls, and consider liquidity implications as the Flow ecosystem undergoes assessment. The steps reflect disciplined risk management and align with standard exchange governance practices.