Key Insights:
- Crypto news reports Upbit’s October 19 ICX/KRW delisting over security concerns.
- Upbit will cancel open ICX/KRW orders and support withdrawals until November 18.
- JPYC rose 197.5% to 35.7 won after its Upbit listing, then fell to around eight won.
Crypto news from South Korea covers Upbit’s decision to remove ICX/KRW trading after security concerns remained unresolved.
The exchange will end trading at 3:00 p.m. Korea Standard Time on October 19, 2026. It will cancel outstanding orders at that time and keep track of ICX withdrawals until November 18.
Upbit said ICON may face security incident risks that remain unresolved or lack sufficient corrective measures. Those concerns persisted after the exchange listed ICX as an investment caution asset.
Crypto News Centers on ICX Security Concerns
According to Upbit, the reasons supporting its decision remained unresolved following the earlier caution designation. Consequently, the exchange scheduled the termination of trading support for the ICX/KRW pair. Its notice identifies security concerns as the basis for removing this market.
For users holding ICX, trading access ends before withdrawal support closes. Orders still open when the October 19 deadline arrives will face automatic cancellation. However, holders can continue withdrawing their tokens through November 18, after the pair stops trading.
Upbit News: Earlier Token Removals Cited Separate Shortcomings
The crypto news report follows an earlier announcement addressing JASMY, Storj, and ThunderCore trading pairs. Upbit pointed out issues involving disclosures, business fundamentals, viability, and proof of progress for JASMY and STORJ.
It said those issues led to its decision to terminate support, citing the risk of harm to users.
For ThunderCore, the exchange addressed concerns about total issuance, circulation plans, and changes to its business plan. It also cited shortcomings in transparency and procedural integrity. These concerns accompanied the removal of TT markets alongside the JASMY and STORJ pairs.
The affected markets comprised STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW, and TT/BTC. Upbit said it would cancel all open orders when trading support ended. That earlier notice allowed withdrawals of the affected assets until October 14.
The exchange also outlined restrictions on additional services for tokens awaiting removal, in addition to the crypto news. It said it would not support airdrops, wallet upgrades, or hard forks for those assets. Those service changes formed part of the earlier delisting announcement.
Crypto News: JPYC Listing Recorded a Strong Rise and Decline
Separately, in addition to the crypto news in South Korea, a report on Upbit’s JPYC listing described price movements shortly after trading opened. The yen stablecoin began trading at 6:00 p.m. and reached 35.7 won within 40 minutes. That marked a 197.5% increase from its opening price before it later returned to the eight-won range.
Each JPYC offers redemption for one yen, which the report valued at approximately 8.8 won. Around 120 billion won in buy orders arrived immediately after the listing. Upbit accounted for approximately 90% of JPYC trading volume at the time, according to the report.
Deposits and withdrawals initially remained unavailable, preventing holders from bringing external tokens onto Upbit to sell. The exchange opened both services at 6:50 p.m., approximately 50 minutes after trading began. Until then, transactions relied on tokens and funds already inside the platform.
The report also cited posts on X describing trades by Japanese JPYC holders. Those posts said holders exchanged JPYC for Circle’s USDC through Uniswap and reported doubling their money. Uniswap allows users to exchange tokens directly through connected wallets.
