Flow Foundation Fights Korean Delisting After Binance Clears Crypto Security Fears
Flow Foundation is asking a Seoul court docket to halt the delisting of FLOW on South Korea’s greatest crypto exchanges.
FLOW Fights Back
In an announcement made on March 8, Flow Foundation and Dapper Labs (a enterprise‑backed Web3 firm greatest recognized for creating CryptoKitties, NBA Top Shot and different main NFT merchandise) have revealed that they filed a movement with the Seoul Central District Court to droop the deliberate termination of FLOW buying and selling on Upbit, Bithumb and Coinone.
Crypto Security Fears
On Dec. 27, Flow suffered a protocol‑level exploit that allowed an attacker to mint roughly 3.9 million duplicate tokens, triggering an emergency halt. Initial restoration proposals included a full chain rollback, which drew pushback from companions over double balances and bridge losses; the staff pivoted to an “remoted restoration” that focused and destroyed solely the counterfeit tokens.
Despite no consumer funds on exchanges have been finally misplaced, Korean platforms stored FLOW beneath heightened scrutiny. Upbit, Bithumb and Coinone introduced on Feb. 12 that they might finish buying and selling assist for FLOW on March 16, citing the December protocol-level exploit.
Security Concerns Are Now Resolved
However, each main international venue, together with Binance, Coinbase, Kraken and HTX, have now independently reviewed the incident and absolutely restored FLOW buying and selling, with Binance even eradicating its monitoring tag after a joint decision on March 6. This confirms, in line with Flow Foundation and Binance itself, that “all points associated to the safety incident have been resolved”.
“A Commitment To Korea”
In Korea, Korbit (one in every of South Korea’s oldest regulated cryptocurrency exchanges, targeted on KRW spot buying and selling for main cash and retail customers) carried out its personal evaluate, Korbit removed a trading-caution label on Feb. 27, and continues to assist unrestricted FLOW buying and selling. Flow Foundation expressed its particular gratitude in direction of his Korean group continued assist:
The Foundation acknowledges the uncertainty the Korean group has confronted since February, and is grateful for the endurance and assist of Korean holders via this course of
The submitting of the movement with the Seoul Central District Court is a step that “displays the accountability of the Foundation to advocate for the Korean group utilizing each accessible pathway”, Flow Foundation claims. The Foundation has additionally assured that it “stays open to constructive dialog with all events concerned”.
Alongside this, The Foundation is pursuing new listings and expands self-custody choices for native customers whereas pushing forward with its client DeFi roadmap, together with on-chain automation, EVM‑equal infrastructure and an enshrined lending protocol, betting that lengthy‑time period adoption will outlast brief‑time period regulatory frictions in a single market.
The Growth Of The Flow Ecosystem
While Korea wrestles over FLOW’s itemizing standing, the underlying community is quietly behaving like a high‑tier client chain. Disney, the NBA, the NFL and Ticketmaster all proceed to construct on Flow, collectively distributing over 100 million NFTs to greater than 13 million followers and producing billions in main and secondary gross sales.
As Flow’s ecosystem momentum continues to construct, the true query for traders watching the Korean injunction drama is whether or not a localized delisting can really derail it.
Cover picture from ChatGPT, FLOWUSD chart from Tradingview
