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Bithumb and Coinone, two leading cryptocurrency exchanges in South Korea, announced that they have added Map Protocol’s native token, MAPO, to their delisting watchlist. The exchanges stated that the decision was made due to security concerns.
Both platforms announced that a security breach had been detected in the wallet infrastructure to which MAPO is connected, or in the distributed ledger system where the token is issued and stored. According to the statements, while it is believed that the incident may be related to a cyberattack or hack, the source of the incident has not yet been fully confirmed, and it is not clear whether the security vulnerability has been completely fixed.
Exchanges stated that they have placed MAPO under investment alert to protect the security of user assets and have requested a detailed explanation from the project team regarding the incident. It was noted that the token’s trading status will be re-evaluated during the review process. Following technical and operational reviews, MAPO’s trading support may be completely removed or its current status may be maintained.
Cryptocurrency exchanges occasionally add certain assets to their delisting watchlist, particularly due to security breaches, low transparency, or issues with project operations. During this process, the projects’ technical capabilities, security measures, and capacity to protect users are thoroughly examined.
The final decision regarding MAPO’s future is expected to be announced after the completion of the investigation and security assessments.
*This is not investment advice.