South Korean cryptocurrency exchange Upbit has placed BLAST on its trading alert list and temporarily suspended deposits, adding pressure on the token shortly after the Blast team announced plans to cease operations. The exchange cited concerns over the project’s commercial credibility and sustainability, warning that the situation could expose users to potential harm.
The alert applies to all three BLAST trading pairs on Upbit: BLAST/KRW, BLAST/BTC and BLAST/USDT. The exchange’s review period is scheduled to run through October 12–16, with the possibility of further action depending on whether the concerns can be resolved.
The warning does not mean BLAST has already been delisted. Upbit may remove the alert after its review, extend the assessment period or terminate trading support entirely. The exchange has stated that delisting remains a possibility if the issues behind the warning are not adequately addressed. Any decision to end support would be followed by a separate announcement specifying the relevant date.
The temporary deposit suspension also creates an immediate operational risk for BLAST holders using the exchange. Upbit warned that tokens transferred to the platform during this period may not be credited to users’ accounts and, in some cases, may be difficult or impossible to recover. Users therefore face a risk of losing access to transferred tokens if they attempt to deposit BLAST despite the warning.
The timing compounds the uncertainty surrounding the project. The Blast team’s decision to wind down operations followed concerns that the costs of maintaining the network exceeded its revenue. Upbit’s assessment introduces a separate exchange-level risk, potentially affecting the token’s trading access even before any final delisting decision is made.
For BLAST holders, the key issue is now the outcome of Upbit’s review and whether the exchange considers the project’s concerns sufficiently addressed. Until a final decision is announced, BLAST remains under review rather than permanently delisted on Upbit. The deposit suspension and possibility of losing trading support make the exchange’s next announcement particularly important for users holding or transferring the token through the platform.
