South Korean Exchanges Delist Hundreds of Altcoins, Sparking Investor Loss Concerns
South Korea's five largest won-based cryptocurrency exchanges have delisted hundreds of altcoins over the past three years, sparking concerns about growing investor losses.
According to a report from Hankyung Business, Upbit, Bithumb, Coinone, Korbit, and GOPAX listed 1,236 new altcoins between 2022 and July this year but removed trading support for 430 of them.
The delisting ratio varies significantly among the exchanges, with GOPAX having the highest rate at 63.2% followed by Coinone at 46.6%, Bithumb at 31.5%, Korbit at 20.3%, and Upbit at 19.2%.
The report warns that if this pattern continues, exchanges may prioritize expanding their tradable asset lists and trading volumes over investor protection, leaving retail investors vulnerable to sudden price drops and liquidity crunches upon delisting.