Flow Foundation Fights Korean Delisting After Binance Clears Crypto Security Fears

bitcoinistPublished on 2026-03-10Last updated on 2026-03-10

Abstract

Flow Foundation and Dapper Labs have filed a motion with the Seoul Central District Court to halt the planned delisting of FLOW on major South Korean exchanges Upbit, Bithumb, and Coinone. The delisting followed a December protocol-level exploit that allowed the minting of duplicate tokens, though no user funds were lost. While global exchanges like Binance, Coinbase, and Kraken have since reviewed and fully restored FLOW trading—with Binance removing its monitoring tag—Korean platforms maintained heightened scrutiny. Flow expressed gratitude for the Korean community’s support and emphasized its commitment to the market through legal action, potential new listings, and ecosystem development. Despite regulatory challenges, Flow’s network continues to attract major partners like Disney and the NBA, with strong consumer adoption and NFT distribution.

Flow Foundation is asking a Seoul court to halt the delisting of FLOW on South Korea’s biggest crypto exchanges.

FLOW Fights Back

In an announcement made on March 8, Flow Foundation and Dapper Labs (a venture‐backed Web3 company best known for creating CryptoKitties, NBA Top Shot and other major NFT products) have revealed that they filed a motion with the Seoul Central District Court to suspend the planned termination of FLOW trading on Upbit, Bithumb and Coinone.

Crypto Security Fears

On Dec. 27, Flow suffered a protocol‐level exploit that allowed an attacker to mint roughly 3.9 million duplicate tokens, triggering an emergency halt. Initial recovery proposals included a full chain rollback, which drew pushback from partners over double balances and bridge losses; the team pivoted to an “isolated recovery” that targeted and destroyed only the counterfeit tokens.

Despite no user funds on exchanges were ultimately lost, Korean platforms kept FLOW under heightened scrutiny. Upbit, Bithumb and Coinone announced on Feb. 12 that they would end trading support for FLOW on March 16, citing the December protocol-level exploit.

Security Concerns Are Now Resolved

However, every major global venue, including Binance, Coinbase, Kraken and HTX, have now independently reviewed the incident and fully restored FLOW trading, with Binance even removing its monitoring tag after a joint resolution on March 6. This confirms, according to Flow Foundation and Binance itself, that “all issues related to the security incident have been resolved”.

“A Commitment To Korea”

In Korea, Korbit (one of South Korea’s oldest regulated cryptocurrency exchanges, focused on KRW spot trading for major coins and retail users) conducted its own review, Korbit removed a trading-caution label on Feb. 27, and continues to support unrestricted FLOW trading. Flow Foundation expressed its special gratitude towards his Korean community continued support:

The Foundation recognizes the uncertainty the Korean community has faced since February, and is grateful for the patience and support of Korean holders through this process

The filing of the motion with the Seoul Central District Court is a step that “reflects the responsibility of the Foundation to advocate for the Korean community using every available pathway”, Flow Foundation claims. The Foundation has also assured that it “remains open to constructive conversation with all parties involved”.

Alongside this, The Foundation is pursuing new listings and expands self-custody options for local users while pushing ahead with its consumer DeFi roadmap, including on-chain automation, EVM‐equivalent infrastructure and an enshrined lending protocol, betting that long‐term adoption will outlast short‐term regulatory frictions in one market.

The Growth Of The Flow Ecosystem

While Korea wrestles over FLOW’s listing status, the underlying network is quietly behaving like a top‐tier consumer chain. Disney, the NBA, the NFL and Ticketmaster all continue to build on Flow, together distributing over 100 million NFTs to more than 13 million fans and generating billions in primary and secondary sales.

As Flow’s ecosystem momentum continues to build, the real question for investors watching the Korean injunction drama is whether a localized delisting can truly derail it.

FLOW's price trends to the upside on the daily chart. Source: FLOWUSD on Tradingview

Cover image from ChatGPT, FLOWUSD chart from Tradingview

Related Questions

QWhat action did Flow Foundation take in response to the planned delisting of FLOW on major South Korean exchanges?

AFlow Foundation filed a motion with the Seoul Central District Court to suspend the planned termination of FLOW trading on Upbit, Bithumb, and Coinone.

QWhat was the primary reason cited by the Korean exchanges for their decision to delist FLOW token?

AThe exchanges cited the December protocol-level exploit that allowed an attacker to mint approximately 3.9 million duplicate tokens as the reason for the delisting.

QWhich major global cryptocurrency exchange removed its monitoring tag for FLOW after a joint resolution on March 6?

ABinance removed its monitoring tag for FLOW after the joint resolution on March 6, confirming that all security issues were resolved.

QWhich South Korean exchange conducted its own review and continued to support unrestricted FLOW trading, removing its trading-caution label?

AKorbit conducted its own review, removed a trading-caution label on February 27, and continues to support unrestricted FLOW trading.

QWhat major corporations are mentioned as continuing to build on the Flow network, contributing to its ecosystem growth?

ADisney, the NBA, the NFL, and Ticketmaster are all mentioned as continuing to build on Flow, having distributed over 100 million NFTs to more than 13 million fans.

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