Upbit Suspends FLOW Deposits and Withdrawals as DAXA Flags Network Security Risk

South Korea’s leading crypto exchange takes precautionary action while industry body warns traders of potential risks tied to Flow.

Upbit has temporarily suspended deposits and withdrawals of Flow (FLOW) citing concerns over a potential security issue affecting the Flow mainnet. The exchange stated that the move is intended to protect users and prevent unexpected losses while the situation is assessed. At the time of the writing no specific timeline was provided for when FLOW services would resume.

On the same day, the Digital Asset Exchange Association of Korea (DAXA) issued an official Trading Risk Warning for FLOW. According to DAXA, there are clear indications of a security-related issue on the Flow network, prompting closer monitoring by member exchanges. The organization noted that depending on the outcome of ongoing investigations, additional measures may be implemented, including labeling FLOW as a trading caution asset or suspending trading support altogether.

What the Warning Means for Traders

A DAXA trading risk warning signals that an asset may pose heightened operational or security risks, urging investors to exercise caution. While trading may continue for now, such warnings often precede stricter actions if unresolved technical or security vulnerabilities persist. Exchanges typically escalate responses based on factors such as network stability, transparency of remediation efforts, and potential impact on users.

The Flow network, known for supporting blockchain-based applications and digital collectibles, has not yet released a detailed public statement outlining the nature or scope of the issue. Market participants are closely watching for updates, as exchange suspensions and regulatory warnings often influence liquidity and price volatility.

Users are advised to monitor official exchange notices and network updates before making any FLOW-related trading or transfer decisions.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.