Upbit Lifts Trading Warning on Taiko After Security Review
Upbit, a major South Korean cryptocurrency exchange, has lifted its trading warning on Taiko (TAIKO) after completing a thorough review of the project's security breach. The review followed a $1.7 million exploit on Taiko's Ethereum layer-2 bridge in June, which led to halted deposits and network activity.
The 32-day review period has concluded, and Upbit is resuming TAIKO deposits across three markets. However, the exchange cautions traders about potential price volatility as deposits reopen, warning of possible sharp price moves due to differences with overseas exchanges.
Upbit's decision follows a similar move by Bithumb, another major South Korean exchange. Both platforms have lifted warnings and are restoring services as Taiko's network stabilizes. The exchange advises users to remain vigilant despite the improvement in security.