Upbit Cancels Hemi Listing Amid Smart Contract Security Concerns
South Korean cryptocurrency exchange Upbit canceled the listing of Hemi (HEMI) just 18 minutes before trading was set to begin on September 9th. The decision came after the exchange confirmed that a security vulnerability in Hemi's smart contract had been exploited, resulting in an abnormal outflow of tokens.
Upbit announced its intention to list Hemi on both the Bitcoin (BTC) and Tether (USDT) markets at 7:25 p.m. on September 8th. However, the exchange notified users that it was canceling trading support for Hemi at 9:12 p.m. on the same day.
A Upbit official stated, 'We conduct continuous monitoring even after announcing trading support and up until the actual start of trading, and it was during this process that we identified a serious security issue affecting the project.'