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Upbit Warns Users About Suspicious Movements in Somesing (SSX)

Upbit Announces Precautionary Period for Review of Somesing (SSX)

TL;DR

  • Upbit Alert on SSX: Upbit issues alert on suspicious financial movements in Somesing (SSX).

  • Cautionary Designation by DAXA: DAXA in South Korea identifies SSX as an asset under watch, supporting Upbit’s concerns.
  • Comprehensive Review of SSX by Upbit: Upbit schedules a precautionary period from January 29 to February 14 to conduct a detailed review of Somesing (SSX) amid the highlighted importance of security in the cryptocurrency market.


In a statement issued on January 29, 2024, Upbit, a prominent cryptocurrency exchange platform, alerted its users about suspicious financial movements in the altcoin Somesing (SSX).

The Digital Asset Exchanges Association (DAXA), a consortium in South Korea, also identified SSX as an asset under watch.

Upbit‘s confirmation of unusual fund movements in Somesing Foundation wallets raised security concerns.

This finding evidenced a deviation in circulating supply from the initial plan, which led to the designation of Somesing (SSX) as a precaution to safeguard investors.

DAXA, with the authority to take preventive measures, issue warnings and suspend trading support, identified SSX as an asset subject to precautions.

Upbit plans to conduct a review process with the Somesing Foundation to clarify the facts related to fund movements.

The precautionary period for Somesing will involve a comprehensive review of the digital asset

Following the precautionary designation, which has been scheduled from January 29 to February 14, 2024, Upbit will conduct a detailed review of the digital asset to determine whether to extend, lift the precautionary designation, or terminate trading support.

Upbit Alerts Users for Suspicious Movements in Somesing (SSX)

If the reasons for the designation are not fully resolved, Upbit will notify users of the termination of trading support.

Regarding deposits and withdrawals, digital assets designated as prudential will not be reflected in deposits after the notice, and all deposits are subject to return.

Currently, SSX deposit and withdrawal services are temporarily suspended at the request of the project.

Upbit reiterates its commitment to the security of transactions and ensures that all actions taken comply with the policy of designating digital assets with precautionary measures and termination of commercial support.

Upbit’s warning about Somesing (SSX) highlights the importance of security in the cryptocurrency market.

Users with SSX should stay informed during the precautionary period and follow the updates provided by Upbit.

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