South Korea's Cryptocurrency Exchanges Issue Joint Warning on This Altcoin! Price Reacts Strongly!

The Korea Digital Asset Trading Platform Association (DAXA), a coalition of leading South Korean cryptocurrency exchanges including Upbit and Bithumb, has issued a warning about a new altcoin.

Accordingly, DAXA has set an investment alert for the altcoin called Boundless (ZKC).

At this point, Upbit, Bithumb, and Coinone announced that Boundless (ZKC) has been designated as an investment alert.

Bithumb explained that the decision was made after it was determined that the project had arbitrarily changed critical information without proper justification.

The exchange also stated that there were numerous procedural deficiencies regarding the implementation and disclosure of these changes.

“Boundless (ZKC) has been designated as a precautionary trading item by member companies of the Digital Asset Exchanges Association (DAXA). Therefore, ZKC deposit services will be temporarily suspended,” Upbit said.

The reason why DAXA designated ZKC as a warning-listed asset was explained as follows:

“Boundless (ZKC) has been identified as having the potential to harm users due to its failure to publicly disclose important project-related issues or arbitrarily changing them without justifiable cause. Therefore, to verify the accuracy of these issues and prevent further user harm, the entity has been placed on a warning list for approximately two weeks.”

*This is not investment advice.