Korean Exchanges Delist Hundreds of Altcoins, Fueling Investor Loss Concerns

South Korea's largest cryptocurrency exchanges have delisted hundreds of altcoins in recent years, sparking concerns about growing investor losses. According to a report from Hankyung Business, the five major won-based exchanges - Upbit, Bithumb, Coinone, Korbit, and GOPAX - listed over 1,200 altcoins between 2022 and July this year.

However, they also removed trading support for 430 of these coins. The delisting ratio varies significantly across the five platforms, with GOPAX having the highest rate at 63.2%, followed by Coinone at 46.6% and Bithumb at 31.5%. Korbit and Upbit had lower delisting ratios of 20.3% and 19.2%, respectively.

The report warns that if this pattern continues, exchanges may prioritize expanding their tradable asset lists over investor protection. Retail investors could be left with significant losses as problematic virtual assets are removed only after problems emerge.