BREAKING: Another Blow to the Altcoin That Announced It Would Shut Down—This Time from South Korea – It Has Been Added to the Warning...

Following Ethereum’s announcement that its Layer 2 network, Blast, will cease operations, a new development has emerged that concerns BLAST investors.

Upbit, one of South Korea’s largest cryptocurrency exchanges, has added BLAST to its list of assets under trading alert. Following this decision, deposits for BLAST have also been temporarily suspended.

Upbit, in its assessment, stated that the project’s commercial operations lacked sufficient credibility and sustainability. The exchange also indicated that the current situation could cause harm to users and announced that a warning had been issued to protect investors.

The decision covers all BLAST/KRW, BLAST/BTC, and BLAST/USDT trading pairs. The warning period will continue until the third week of October, from October 12-16.

Can a Delisting Decision Be Made for BLAST?

Upbit’s decision does not mean that BLAST has been permanently delisted from the exchange. The exchange may remove the alert at the end of its review process, extend the evaluation period, or completely end support for BLAST trading.

Upbit has explicitly stated that a delisting decision may be made if the issues causing the warning cannot be fully resolved. If such a decision is made, the date on which trading support will end will be announced separately.

Following the release of the warning announcement, it was also reported that BLAST tokens sent to Upbit might not be credited to user accounts and in some cases might not be recoverable. Therefore, the exchange warned users against making any new BLAST deposits.

The development came shortly after the Blast team announced its decision to cease operations due to network maintenance costs exceeding revenue.

*This is not investment advice.