Deposits and withdrawals have been suspended; Upbit places Zilliqa on its watchlist for trading

Odaily Planet Daily News: South Korean crypto exchange Upbit announced that the Zilliqa token ZIL has been added to its "Cautionary Notice" asset list, affecting the ZIL/KRW and ZIL/BTC trading pairs. Upbit stated that, in accordance with relevant provisions of South Korea's 《Virtual Asset User Protection Act》, the platform has identified potential security incident risks, such as unidentified or unaddressed hacking attacks, related to the ZIL wallet or the distributed ledger on which its issuance, transmission, and storage depend. These risks could potentially cause losses to users, prompting the exchange to take risk warning measures. The announcement indicated that the cautionary notice period for ZIL is from July 22, 2026, to the third week of August, which falls on August 17 to 21. During the review period, Upbit will evaluate the associated risks based on its trading support termination policy and may extend the observation period, lift the cautionary notice, or terminate trading support. Furthermore, ZIL deposit and withdrawal services have already been suspended. Upbit stated that if services are resumed in the future, only the withdrawal function will be prioritized for restoration. Whether deposit services will be reinstated will be notified separately based on subsequent review results. Currently, new deposits cannot be credited, and related deposit transactions will be returned.