TLDR
Upbit, Bithumb, and Coinone paused FLOW trading activity during the Flow network incident in late December, with DAXA issuing a transaction risk warning that prompted restrictions across Korean venues The Block report.
- Upbit and Bithumb suspended FLOW deposits and withdrawals after the exploit disclosure news summary.
- Coinone also halted deposits and withdrawals as part of the protective measures The Block report above.
- DAXAs warning signaled possible trading restrictions or termination of support until stability returns notice coverage.
Deep Dive
1. Korean Venues Acted Fast
Major Korean exchanges moved first. Upbit and Bithumb suspended FLOW deposits and withdrawals shortly after the incident, with DAXA issuing a transaction risk warning that allowed member exchanges to tighten or halt trading as needed news summary.
- The measures were precautionary while the networks stability was being assessed Yahoo Finance coverage.
If you relied on Korean venues for FLOW, access was limited to protect users until technical risk was contained.
2. Coinone Joined the Pauses
Coinone also suspended deposits and withdrawals, adding to the coordinated stance among Koreas leading platforms to prevent potential spillovers while the situation developed The Block report.
- These actions typically precede or accompany trading restrictions when a token is under investigation for elevated risk notice above.
Liquidity and price discovery can fragment when multiple exchanges pause token flows, increasing volatility and execution risk.
3. Exchange Resumption Tied to Recovery Phases
Flows recovery plan indicated exchange activities would resume only after the networks stability was conclusively verified, placing exchange reopenings in the final phase of remediation project update.
- The phased approach prioritized isolating fraudulent tokens and restoring normal operations safely project update above.
Expect exchanges to lift restrictions in step with confirmed network stability, not on a fixed timetable.
Conclusion
The exchanges that paused FLOW trading-related activity were Upbit, Bithumb, and Coinone, following DAXAs risk warning and the Flow network incident. These measures aimed to protect users while the network moved through remediation, and trading normalization is linked to the completion of Flows recovery phases.
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