Upbit has designated ZKC as a "Investment Warning" cryptocurrency and suspended deposits due to issues related to circulation plans

According to ChainCatcher news, the South Korean cryptocurrency exchange Upbit announced that, based on the joint decision of the Digital Asset Exchange Alliance (DAXA), it has designated Boundless (ZKC) as an "Investment Warning" cryptocurrency, and will suspend its deposit services starting today at 20:30 (Beijing time).

Upbit stated that after evaluating the ZKC project, it found many deficiencies in aspects such as changes in circulation plans, transparency and rationality of information disclosure. The announcement mentioned that after discovering that the project's circulation exceeded the original plan, Upbit communicated with the project party, but the related concerns were not resolved. The "Investment Warning" designation will last until October 17. During this period, Upbit will conduct further reviews of the project, and if the issues are not fully resolved, it may decide to terminate trading support (delist).