Upbit Puts Injective on Delisting Watchlist Amid Unresolved Security Incident
South Korean cryptocurrency exchange Upbit has placed Injective (INJ) on its delisting watchlist due to an unresolved security incident involving a virtual asset wallet or distributed ledger. The announcement, made on March 12, 2025, raises concerns among INJ holders and the broader crypto community about the token's future on the platform.
The exchange stated that the incident remains unresolved after conducting an internal review, which identified a security breach or unresolved vulnerability related to the Injective network or its associated wallets. Upbit will initiate a delisting review process under its listing management policies, which may result in trading suspension or removal if the issues are not adequately addressed within a specified period.
The move aligns with South Korea's stringent regulatory framework for virtual asset exchanges, requiring platforms to conduct thorough due diligence on listed tokens and act swiftly when security risks emerge. Upbit has previously placed other tokens on similar watchlists, leading to either successful resolution or eventual delisting.