[Upbit] Notice of STMX (StormX) Designation as Cautionary Item for Trading

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

STMX (StormX) has been designated as a cautionary item for trading, and therefore deposit services will be temporarily suspended. (Enforcement Decree of the Act on the Protection of Virtual Asset Users, Article 17, Paragraph 1, Subparagraph m)

*STMX (StormX) has been designated as a cautionary item for trading by the member companies of the Digital Asset eXchange Alliance (DAXA).

DAXA member companies may take actions such as issuing warnings, designating cautionary items for trading, and ultimately ending trading support, in order to protect users.

Please check the details below for the reasons for this designation, especially if you hold this digital asset.

[Notice of Cautionary Item Designation Reason]

• Target Markets: STMX/KRW, STMX/BTC

• Reason for Designation as Cautionary Item for Trading

• Upbit has found that, in accordance with exemplary cases for supporting virtual asset trading, there are several shortcomings regarding the disclosure of important information related to the issuer or operator, the existence of required procedures for change, the authenticity and sustainability of businesses related to the virtual asset, and the potential for user damage. For investor protection, Upbit is designating STMX (StormX) as a cautionary item for trading.

• Cautionary item designation period: May 19, 2025 (Mon) 15:00 KST ~ June 2, 2025 (Mon) 23:59 KST

[Next Steps After Cautionary Item Designation]

• Once designated as a cautionary item, Upbit generally conducts a detailed review of the relevant digital asset to determine whether to extend, lift, or end trading support for the cautionary designation.

• Upbit will conduct its review in accordance with the Digital Asset Trading Support Termination Policy after cautionary item designation.

• During this process, the review period for the designation as a cautionary item may be extended, and if the reasons for the cautionary designation are not fully resolved, trading support may be discontinued.

• If the review period is extended or a decision is made to end trading support, a separate notice will be posted, and the exact schedule will be provided in that notice.

• For digital assets designated as cautionary items, no further deposits will be reflected after the time of this announcement, and all such deposits will be subject to return.

• Upbit's designation of cautionary items for trading and trading support discontinuation are in accordance with the Digital Asset Trading Support Termination Policy.

[Notice of Temporary Deposit Suspension]

• Target digital asset: STMX (StormX)

• Deposit suspension time: 2025-5-19 (Mon) 15:00 KST

• Deposit resumption notice: Will be announced based on procedures after cautionary item designation

[Important Notes Regarding Deposits]

• If a deposit is made for STMX after the deposit suspension time, the deposit may not be credited to your Upbit account, and in such cases, recovery may not be possible. Please refrain from making deposits after the deposit support suspension time. During the suspension period, the deposit return process for the digital asset will be halted, and returns will be processed sequentially after the deposit support resumes.

• If deposit suspension occurs, deposit processing may be delayed due to reasons such as network congestion, and there may be a time gap between the confirmation of blockchain network transactions and the reflection in your account.

• Deposits made before or after the suspension time may occur on some blockchain networks, but according to our wallet system's processing status, normal processing cannot proceed during the inspection period; once the inspection ends, processing will proceed sequentially, and there may still be delays in the reflection in member accounts.

• For unscheduled inspections such as wallet or network maintenance, deposits may occur on certain blockchain networks before or after the notice, but normal processing will not be possible during the maintenance period; after completion of maintenance, processing will proceed sequentially following a verification process, which could cause delays in reflecting such deposits in member accounts.

• If anything unusual arises regarding resumption of deposit support, we will provide guidance in this announcement.

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

Thank you.

※ Virtual assets are high-risk products and may cause loss of investment principal in whole or in part.

*This is information automatically generated.