Critical Decision from South Korean Giant for This Altcoin: Transactions Suspended!

Upbit, South Korea’s largest cryptocurrency exchange, has made a critical announcement regarding an altcoin.

According to the announcement made by Upbit on its official website on August 7, 2026, Synthetix (SNX) has been added to the Investment Warning list. In line with this decision covering the SNX/BTC trading pair, deposit services for the asset were temporarily suspended as of 16:30 on August 7.

In the statement issued by Upbit, it was noted that certain deficiencies were identified following reviews of changes to SNX’s total supply and circulating supply plans, as well as the project’s sustainability and progress. The announcement emphasized that deposits made after the specified time will not be reflected in accounts; therefore, investors must check the current status before transacting. A warning was issued that transfers made after deposit support is discontinued may involve a lengthy refund process or may not be recoverable.

It was announced that the review process for the asset in question will continue until the fourth week of August (August 24-28). It was stated that as a result of detailed evaluations conducted during this period, the investment warning decision could be extended, removed, or the asset could be completely delisted and trading support terminated. Upbit reminded investors to exercise caution throughout the review process.