Upbit Lists Initia (INIT) as a Trading Caution Project

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INIT
$0.22127.83%
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Upbit has classified Initia (INIT) as a trading caution project due to unresolved security issues impacting its assets, wallets, or blockchain. The exchange has suspended deposits and withdrawals to safeguard users, with withdrawals potentially resuming first. Investors should evaluate the risk-to-reward ratio before engaging with INIT. Technical analysis for crypto suggests heightened caution amid the uncertainty. Deposit services will resume following the standard process for such projects.

BlockBeats news, on October 26, according to official information, Upbit has confirmed that Initia (INIT) has experienced security incidents—such as unexplained or unpatched cyberattacks—on virtual asset wallets managed by the virtual asset, issuer, or operator, or on the distributed ledger used for the issuance, transfer, or storage of virtual assets. Considering the potential risk to users, and in the interest of investor protection, Upbit has designated Initia (INIT) as a trading caution item.


Deposit and withdrawal services for Initia (INIT) are currently suspended. When services are restored, withdrawal will be reinstated first; the resumption of deposit services will be announced separately, following the designated procedures for trading notices.

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