South Korean Exchange Giant Adds This Altcoin to Watchlist: Deposits Suspended

Upbit, South Korea’s largest cryptocurrency exchange, has issued a critical warning for an altcoin and decided to suspend deposit transactions.

According to the statement made by Upbit on its official website on July 31, 2026, JasmyCoin (JASMY) has been added to the “investment warning” (cautionary item) list on the platform. As part of this decision, deposit services for JASMY/BTC and JASMY/USDT trading pairs have been temporarily suspended as of 16:30 on July 31.

In the statement made by Upbit, it was noted that several deficiencies were identified following reviews regarding the accuracy of information published by the project, the sustainability of its business model, and operational transparency. The exchange emphasized that JASMY was placed on the watchlist to prevent user victimization.

It was announced that the review process for the asset in question will continue until the second week of August (August 10-14). At the end of this evaluation process, Upbit will decide whether to extend the investment warning, lift it, or completely delist the asset from the platform.

Additionally, it was reminded that JASMY deposit transactions will not be supported during the investment warning period, transfers made during this process will not be reflected in accounts, and refund processes may not be possible. Investors were asked to be cautious against risks that may arise due to network congestion and technical glitches and strictly advised not to make deposits from the specified date onwards.