Investment Warning (LINA)

Dear Upbit users,

We hereby announce that DAXA(Digital Asset eXchange Association) has flagged LINA with an Investment Warning.DAXA members may jointly take measures such as urging investment caution/attention, flagging of investment warning, and termination of market support for investor protection.

Please note the following details if you are a LINA holder.

[Reason for Investment Warning]

LINA(Linear)

• Market : LINA/BTC
• Reason
  • Linear(LINA) is a digital asset that functions as collateral for the ℓUSD stablecoin, which is intended to maintain a peg to the value of 1 USD. However, it has recently been discovered that the value of ℓUSD is not maintaining its peg to 1 USD, despite the intended design of the stablecoin.
  • Therefore, Upbit has determined that this situation could potentially cause unexpected losses for investors due to the rapid fluctuations in the value of LINA, given that the price of the ℓUSD stablecoin is not properly pegged to 1 USD.

[Following steps after the flagging of Investment Warning]

• Upbit will conduct a detailed review of the digital asset for two weeks after the flagging of investment warning to determine whether the market support will be continued.
• After the flagging of investment warning, Upbit generally conducts a detailed review of the asset to determine whether to extend the warning, remove it, or terminate market support altogether.
• The review period may be extended during the review process, and if there is an extension of the period, we will notify you through this notice.
• If the reason for Investment Warning is not fully resolved during the review period, Upbit will issue a new announcement regarding the termination of market support and its schedule.
• After this notice, any deposits made for the digital asset flagged with an investment warning will not be reflected and will be subject to return.
• Flagging of Investment Warning and termination of market support is followed by Upbit Market Investment Warning and Termination of Market Support Policy.

Please rest assured that Upbit is fully committed to ensuring the safety of your trading.Thank you.

※ If there is any discrepancy between the translated English version and the original Korean version, the Korean version shall prevail.