Upbit Puts ICON (ICX) on Delisting Watchlist Over Security Concerns
South Korean cryptocurrency exchange Upbit has put ICON (ICX) on its delisting watchlist due to unresolved security incidents involving the project's wallets or underlying blockchain. The exchange cited potential hacks as a reason for the move.
The suspension of ICX deposits and withdrawals by Upbit is typically a precursor to full delisting if the issues are not resolved within a set timeframe. As one of the largest exchanges in South Korea, this decision could significantly impact ICX's liquidity and market access.
ICON is a blockchain project focused on interoperability between different networks, with a dedicated community since 2017. However, this is not the first time it has faced regulatory or technical challenges. The delisting watchlist raises questions about the security of blockchain projects and exchange responsibilities to protect users.