Upbit Korea officially designated Sophon (SOPH) as an asset under ‘trading-caution’ status starting September 22, 2026, at 3:00 PM KST. The exchange’s warning applies across the SOPH/KRW, SOPH/BTC, and SOPH/USDT trading pairs. Following the notice, deposit services for SOPH were immediately halted on the platform.
The suspension comes after Upbit identified several shortcomings on the developer’s side, including gaps in disclosure, unilateral changes to token circulation plans, and procedural flaws when modifying project rules. The exchange assessed that these discrepancies pose tangible risks to users.
SOPH deposits made after the 3:00 PM KST deadline will not be credited to user account balances and will be returned in full to the sender’s address. While deposits are closed, spot trading for existing token holders on the platform will continue normally throughout the evaluation period.
Three Potential Outcomes After the Review
The review period assessing the Sophon project will run from September 22 to a final deadline between October 12 and October 16, 2026. Once the investigation ends, exchange management will consider three potential outcomes. The caution status could be lifted if developers secure renewed approval, extended for further review, or lead to a full delisting across all trading pairs.
Separate Action from Binance
On the same day Upbit’s announcement went live, Binance also moved to clean up its listings. The global crypto exchange scheduled the removal of seven USDC-denominated spot trading pairs, with trading access ending on September 3, 2026, at 03:00 UTC.
The pairs removed from Binance’s spot market include AIXBT/USDC, DOLO/USDC, ENJ/USDC, HUMA/USDC, SXT/USDC, TNSR/USDC, and TURTLE/USDC. Unlike Upbit’s focus on procedural and governance defects, Binance based its decision on market performance metrics, citing weak liquidity and low trading volume as the primary reasons for delisting the assets.
Two Drivers of Market Cleanups
While these two cleanup actions took place on the same day across different exchanges, they stemmed from distinct operational issues. Binance removed pairs due to dwindling trader demand, whereas Upbit took action over disclosure and procedural violations by the project team. For market participants, these simultaneous moves emphasize that crypto projects must not only sustain daily trading volume but also strictly adhere to disclosure requirements when modifying supply circulation with exchanges.
Source: crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
