South Korea's Crypto Exchanges Delist Hundreds of Altcoins Amid 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 by Hankyung Business, Upbit, Bithumb, Coinone, Korbit, and GOPAX collectively listed more than 1,200 altcoins between 2022 and July 2023, but also removed trading support for 430 of them.
The delisting ratios vary significantly across exchanges, with GOPAX having the highest ratio at 63.2%, followed by Coinone at 46.6%. Bithumb recorded a 31.5% ratio, Korbit had 20.3%, and Upbit came in lowest with 19.2%.
The report warns that if this pattern continues, exchanges may prioritize expanding their tradable asset lists to boost trading volumes, while investors could bear increasing losses as problematic assets are removed after problems emerge.