[Upbit] Notice on Designation of Steem Dollars (SBD) as an Investment Warning Item

Hello. This is Upbit, the most trusted global standard digital asset exchange.

Steem Dollars (SBD) has been designated as an investment warning item, and as a result, the deposit service will be temporarily suspended.

(Pursuant to Article 17, Paragraph 1, Item 1 of the Enforcement Decree of the Virtual Asset User Protection Act)

Please find below the detailed reasons for the designation of the investment warning item. Members holding this digital asset are advised to check the following details.

[Reasons for Designation as an Investment Warning Item]

• Target Market: SBD/KRW, SBD/BTC

• Reasons for Designation as an Investment Warning Item

• Upbit has identified that there are numerous shortcomings and potential risks of user harm when comprehensively considering the purpose, function, and current status of transactions and adoption of Steem Dollars (SBD) in accordance with the best practices for virtual asset trading support. Therefore, Upbit designates Steem Dollars (SBD) as an investment warning item to protect investors.

• Designation Period for Investment Warning Item: December 30, 2024 (Mon) 18:15 KST ~ January 13, 2025 (Mon) 23:59 KST

[Steps After Designation as an Investment Warning Item]

• After designation as an investment warning item, Upbit generally conducts a detailed review of the digital asset to determine whether to extend, lift, or terminate the final trading support.

• The review period for the designation as an investment warning item may be extended, and if there is an extension of the review period, we will inform you through this notice.

• If the reasons for designation as an investment warning item are not completely resolved during the review period, Upbit plans to provide guidance on the termination of trading support through a separate notice, and the exact schedule for the termination of trading support will be provided through the notice of termination of trading support.

• Digital assets designated as investment warning items cannot be reflected in deposits after the time of this notice, and all deposits are subject to return.

• Upbit's designation of digital assets as investment warning items and termination of trading support is based on the Digital Asset Trading Support Termination Policy.

[Notice on Temporary Suspension of Deposits]

• Target Digital Asset: Steem Dollars (SBD)

• Deposit Block Time: December 30, 2024 (Mon) 18:15 KST

• Notice on Resumption of Deposits: To be announced according to the procedures following the designation as an investment warning item

[Precautions Regarding Deposits]

• After the suspension of deposit support, deposits of SBD may not be reflected in the Upbit account, and in such cases, recovery may not be possible. Please be careful not to deposit after the suspension of deposit support.

• During the suspension period of deposit support, the deposit return procedure for the digital asset will be temporarily suspended and will be processed sequentially after the resumption of deposit support.

• In the event of a deposit suspension, there may be delays in deposit processing due to reasons such as network congestion, and there may be a difference between the confirmation time of the transaction on the blockchain network and the time of deposit reflection.

• Deposits may occur on some blockchain networks before or after the suspension time, but normal processing is not possible during the inspection period according to our wallet system processing status, and it will be processed sequentially after the inspection is completed, so there may be delays in reflecting it in the member account.

• In the case of unplanned inspections such as wallet inspections or network inspections, deposits may occur on some blockchain networks before or after the notice, but normal processing is not possible during the inspection period according to our wallet system processing status, and it will be processed sequentially after the inspection is completed, so there may be delays in reflecting it in the member account.

• If there are any special circumstances regarding the resumption of deposit support, we will inform you through this notice.

Upbit will always do its best to ensure safe trading for our members.

Thank you.

※ Virtual assets are high-risk products that can result in the loss of all or part of your investment.

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