Bitcoin Exchange Upbit Warned Its Users Due to Suspicious Movements in This Altcoin Fund!

Upbit, one of the major cryptocurrency exchanges, announced that there were suspicious transactions in the funds of SOMESING (SSX) and warned its members who hold this digital asset.

Upbit Warns Its Users About SSX

The Association of Digital Asset Exchanges (DAXA), a collaborative consortium of South Korean Digital Asset Exchanges, has also identified SOMESING (SSX) as an asset to watch.

DAXA has the authority to jointly take precautionary measures, issue precautionary warnings and suspend trading support for investor protection.

Upbit has detected suspicious fund movements in wallets belonging to SOMESING Foundation, raising security concerns. The exchange has determined that a deviation in the circulating supply has occurred compared to the originally proposed circulation plan.

To verify the facts surrounding the movement of funds, Upbit plans to engage in a review process with the foundation. As a precaution for investor protection, Upbit has identified SOMESING (SSX) as an asset to watch out for.

Precautionary Review Period: 29 January 2024 ~ 14 February 2024

Following the cautionary research period, Upbit will typically conduct a comprehensive review of the relevant digital asset.

The outcome of this review may include a final decision to extend or eliminate the cautionary investigation period or terminate trade support.

*This is not investment advice.

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