Upbit Removes Taiko Warning After Review of Security Breach

Upbit, a South Korean cryptocurrency exchange, has removed Taiko (TAIKO) from its trading warning list after reviewing the project's explanation and response to a June security breach. The review lasted 32 days, during which Upbit kept three spot markets open, allowing users to trade existing balances while blocking token inflows.

The security incident involved an attack on Taiko's bridge and chain-state verification system, with estimated losses of over $1 million. The project halted network activity, withdrew funds from bridges, and asked centralized exchanges to stop TAIKO deposits.

Upbit advised users to confirm the correct network before making new deposits, as transactions sent through unsupported networks may not reach exchange accounts. Deposits made during the suspension will receive account credit in sequence once systems reopen.