Upbit, South Korea's largest exchange, delisting Synthetix (SNX) on September 28 due to unresolved concerns over supply changes and sustainability.
Regulation & Gov ·
Upbit, South Korea's largest crypto exchange, will cease trading support for Synthetix (SNX) on September 28 at 3:00 p.m. local time, affecting the SNX/BTC pair. The exchange cited unresolved concerns regarding supply-plan changes, business authenticity, sustainability, and progress as reasons that could expose users to harm. SNX had been placed on a warning list beginning August 7.
The delisting comes after a 30-day notice period. While trading will end on the stated date, withdrawals of SNX will remain available through October 28, providing users a window to move their holdings off the platform.
The specific nature of the supply-plan changes and the particular sustainability concerns driving the delisting remain undetailed. No statement from Synthetix regarding these allegations has been provided in the available material.