Deposits and Withdrawals Suspended, Upbit Places Zilliqa on Watchlist

Odaily Planet Daily News: South Korean crypto exchange Upbit announced that the Zilliqa token ZIL has been added to the “Trading Caution” assets list, involving ZIL/KRW and ZIL/BTC trading pairs. According to South Korea’s “Virtual Asset User Protection Act,” Upbit stated it had identified potential security risks, including possible unresolved or unpatched hacking incidents affecting the ZIL wallet or the distributed ledger on which its issuance, transmission, and storage depend. These risks could cause user losses, prompting the exchange to issue a risk warning. The notice indicates that the ZIL trading caution period runs from July 22, 2026, to the third week of August (August 17-21). During the review period, Upbit will assess related risks according to its transaction support termination policy, and may extend the observation period, lift the warning, or terminate trading support. Additionally, ZIL deposit and withdrawal services have already been suspended. Upbit stated that if services resume in the future, priority will be given solely to restoring withdrawal functions; whether deposit services will resume will be notified separately based on subsequent review results. Currently, new deposits will not be credited, and related deposit transactions will be returned.