Termination of market support for Loom Network(LOOM) (5/7 15:00)

Dear Upbit users,

We would like to inform you about the termination of market support for Loom Network(LOOM).DAXA may jointly take measures such as urging investment caution/attention, flagging of investment warning, and termination of market support for investor protection.

• Ref : [Trade] Investment Warning (LOOM)

[Important Notes on Market Support Termination]

• The termination of market support for digital assets follows Upbit's Digital Asset market support Termination Policy : Upbit Market Investment Warning and Termination of Market Support Policy
• Market support for Loom Network(LOOM) will end on 2025-05-07(Wed) at 15:00 KST.
• At the time of market support termination, all pending buy/sell orders placed before the termination will be automatically canceled.
• From the time of this notice onward, services such as airdrops, wallet upgrades, and hard forks for the digital asset scheduled for market support termination will not be supported.

[Termination of market support]

Loom Network(LOOM)

• Affected Markets : LOOM/KRW, LOOM/BTC
• Scheduled Termination Date : 2025-05-07(Wed) 15:00 KST
• Reason for Market Support Termination :
• Upbit, in accordance with best practices for supporting digital asset trading, evaluated Loom Network(LOOM) based on several criteria: the disclosure and extent of material information related to the asset, the transparency and soundness of procedures for changes in its business plans, and the authenticity and current status of its operations. Based on this comprehensive review, Upbit identified certain shortcomings and, on March 18, 2025, flagged an investment warning on LOOM. After conducting further in-depth reviews, Upbit has determined that the reasons for its investment warning designation have not been resolved. Therefore, in accordance with the Upbit Market Investment Warning and Termination of Market Support Policy, we have decided to terminate market support.
• Even after the market support for LOOM is terminated, withdrawals will be supported for 30 days until 2025-06-09, as per the market support termination policy.
• If you need to withdraw LOOM, please ensure to do so by 2025-06-09. If you deposit or mistakenly transfer assets that are no longer supported, the deposit will not be reflected and it may take a very long time to return the assets due to technical reasons after the withdrawal support period has ended. Therefore, please be careful when making deposits or transfers.

The member companies of the DAXA are continuously reviewing the digital assets they support for trading and monitoring market conditions. In the event of a crisis that may require investor caution, they will continue to implement investor protection measures by promptly providing relevant information and responding appropriately.

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

※ Digital assets are highly volatile and your investment may result in significant loss.※ If there is any discrepancy between the translated English version and the original Korean version, the Korean version shall prevail.