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

Odaily Planet Daily News: South Korean crypto exchange Upbit has announced that the Zilliqa token, ZIL, has been added to its "Trading Caution" 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 unresolved or unpatched hacker attacks, related to the ZIL wallet or the distributed ledger it relies on for issuance, transmission, and storage. These risks could potentially cause losses to users, leading to the implementation of risk warning measures. The announcement indicates that the ZIL trading caution period runs from July 22, 2026, to the third week of August, specifically August 17 to 21. During this review period, Upbit will assess the associated risks according to its Trading 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 are resumed in the future, only the withdrawal function will be prioritized for restoration. Whether the deposit service will be restored will be notified separately based on subsequent review results. Currently, new deposits will not be credited, and related deposit transactions will be returned.