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South Korea’s leading cryptocurrency exchanges, Upbit, Bithumb, and Coinone, have announced that they have added the KernelDAO (KERNEL) token to their delisting watchlist. This decision follows a joint review process aimed at enhancing investor protection.
Upbit stated in its announcement that this decision was based on two main reasons. The first is a security incident or potential attack risk that occurred in the wallets or distributed ledger infrastructure managed by the project and has not yet been fully resolved.
The second reason was that a comprehensive review of the project’s overall business model, sustainability, and development process revealed potential risks for users.
Exchanges emphasized that assets placed on the watchlist will be subject to stricter scrutiny for a specified period. During this process, criteria such as the project’s level of transparency, technical advancements, and community communication will be closely monitored. It was stated that if the necessary improvements are not made as a result of the review, the KERNEL token could be completely delisted.
Experts say that these coordinated steps by major stock exchanges in South Korea increase market discipline and aim to protect investors against risky projects. In particular, recent increases in security concerns and discussions about project sustainability have led stock exchanges to tighten their listing policies.
*This is not investment advice.