Major South Korean Crypto Exchanges Delist UXLINK Over Security Concerns

South Korea's Leading Crypto Exchanges to End Support for UXLINK

South Korea’s prominent cryptocurrency exchanges—Upbit, Bithumb, and Coinone—have announced their collective decision to terminate trading support for UXLINK. This decision, revealed at 1 p.m. on November 2, 2025, comes as part of their collaborative efforts under the Digital Asset eXchange Alliance (DAXA). According to an official joint statement, the move aims to safeguard investors following significant security concerns related to UXLINK.

Trading support for UXLINK will officially conclude at 3 p.m. on November 3, 2025. However, users will have until 3 p.m. on December 3, 2025, to withdraw their holdings. The exchanges emphasized the critical importance of adhering to these deadlines to avoid complications in retrieving funds once the withdrawal period ends.

UXLINK Delisting Stems from Multi-Signature Wallet Breach

The delisting decision stems from an alarming security incident linked to UXLINK’s multi-signature wallet. The issue first surfaced on September 23, 2025, when DAXA flagged UXLINK as an "investment warning asset." Coinone was the first to highlight evidence of a “breach impacting the multi-signature wallet,” raising concerns about the platform's overall integrity.

Upbit later elaborated that comprehensive reviews had exposed multiple security vulnerabilities, including unreported hacking incidents. These findings, coupled with related issues, led all three exchanges to collectively initiate an in-depth investigation into UXLINK’s operations.

The UXLINK Foundation was subsequently asked by DAXA members to provide detailed clarifications regarding the breach. Despite these requests, the foundation’s responses were deemed insufficient to provide clarity or assurance. Bithumb noted, “After a thorough review of the security issues, it is evident that this asset fails to meet the criteria for maintaining trading support.” Upbit echoed these sentiments, warning of a “potential risk of user damages,” which ultimately triggered the joint decision to delist the asset.

Important Deadlines for UXLINK Investors

Trading Ends November 3, 2025

From 3 p.m. on November 3, 2025, trading services for UXLINK will no longer be available on Upbit, Bithumb, and Coinone. Investors will be unable to place buy or sell orders for the token, and any pending orders will be automatically canceled.

Withdrawals Open Until December 3, 2025

The exchanges have set 3 p.m. on December 3, 2025, as the final deadline for investors to withdraw their UXLINK holdings. After this point, technical limitations may significantly delay or complicate the withdrawal process. To avoid potential issues, users are strongly urged to withdraw their digital assets within the stipulated timeframe.

Ensuring a Secure Crypto Trading Ecosystem

The swift and decisive action by DAXA member exchanges underscores their joint commitment to maintaining a secure and trustworthy trading environment for all users. By delisting compromised digital assets like UXLINK, the exchanges aim to mitigate risks and prevent further vulnerabilities from impacting their investor base.

This collective decision serves as a reminder of the importance of rigorous security standards and proactive measures in the evolving cryptocurrency landscape. As the industry continues to grow, investor protection and platform reliability remain top priorities for leading exchanges.