Upbit, one of South Korea's largest cryptocurrency exchanges, will remove STORJ, JASMY, and TT from trading on September 14. The delisting follows a warning review that flagged unresolved concerns about disclosures, project operations, and token circulation.
Why the tokens are being removed
The exchange said the decision came after a review process that had previously placed the three tokens under a warning designation. That review found issues that were not resolved to Upbit's satisfaction. Specifically, the exchange cited problems with how the projects handled disclosures, how they operated, and how their tokens were circulated.
Upbit's warning system is designed to give projects a chance to address concerns before a final delisting. In this case, the concerns remained, so the exchange moved to end support for the tokens.
What happens on September 14
Starting September 14, trading pairs for STORJ, JASMY, and TT will be closed on Upbit. The exchange has not said whether withdrawals will remain available after that date, but typical delistings on Upbit include a grace period for users to remove their funds. The exact timeline for withdrawal support has not been announced.
STORJ is the token for Storj, a decentralized cloud storage network. JASMY is associated with the Jasmy data security platform. TT is the native token of ThunderCore, a blockchain project. None of the three projects have publicly responded to Upbit's decision as of this writing.
What the review found
Upbit's review process looks at a range of factors, including whether a project meets disclosure standards, whether its operations are transparent, and whether token distribution is fair and not overly concentrated. The exchange's statement said the delisting was based on unresolved concerns in all three areas.
This is not the first time Upbit has delisted tokens after a warning review. The exchange regularly conducts such assessments and has removed other digital assets in the past for similar reasons.
For traders holding these tokens, the key date is September 14. After that, they will no longer be able to buy or sell them on Upbit. The exchange has not yet provided details on whether the tokens will be moved to a separate wallet or if there is a final deadline for withdrawals.
Upbit's decision affects only its own platform. The tokens may still trade on other exchanges, but the loss of a major Korean market could reduce liquidity and trading volume.
The delisting takes effect at the start of September 14, local time. Users with positions in STORJ, JASMY, or TT should check Upbit's official announcements for any updates on withdrawal schedules.
