[Upbit] Notice of Designation of Boundless (ZKC) as a Trading Caution Item

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

Boundless (ZKC) has been designated as a Trading Caution Item, and as a result, deposit services will be temporarily suspended. (Enforcement Decree of the Act on the Protection of Users of Virtual Assets, Article 17(1)(ma))

*Boundless (ZKC) has been designated as a Trading Caution Item by members of the Digital Asset Exchanges Association (DAXA).

DAXA member companies may take measures such as issuing cautions, designating Trading Caution Items, or terminating trading support in order to protect users.

Below we provide detailed reasons for the designation as a Trading Caution Item; members holding the relevant digital asset are requested to check the following.

Reasons for Designation as a Trading Caution Item

• Target markets: ZKC/KRW, ZKC/BTC, ZKC/USDT

• Reason for Designation as Trading Caution Item

• Upbit has determined that, regarding Boundless (ZKC), when comprehensively considering factors such as the details and extent of changes to the circulation plan, whether procedures required for changes exist, the transparency and reasonableness of the change procedures, whether and to what extent disclosures have been made regarding important matters related to the virtual asset, and acts of arbitrarily changing important matters without justifiable reasons, there are many insufficient aspects and there is a possibility of causing user harm. From immediately after discovering the fact that the circulation plan was exceeded until the present, we have been communicating with the foundation, but related questions have not been resolved. Accordingly, Upbit designates Boundless (ZKC) as a Trading Caution Item to protect investors.

• Upbit continuously monitors important matters that may materially affect users' reasonable investment decisions or the value of the virtual asset, such as total issuance and circulation plans. If suspicious or insufficient aspects are found, we will take prompt measures and work closely with the foundation to further protect investors.

• Period of designation as Trading Caution Item: October 2, 2025 (Thu) 21:30 KST \~ October 17, 2025 (Fri) 23:59 KST

Steps After Designation as a Trading Caution Item

• When designated as a Trading Caution Item, Upbit will generally determine, through a detailed review of the relevant digital asset, whether to extend or lift the designation or ultimately terminate trading support.

• After designation, Upbit will conduct a review of the reasons for designation as a Trading Caution Item in accordance with the [Digital Asset Trading Support Termination Policy](https://static.upbit.com/guide/market_policy_close.pdf). During the review process, the review period for the designation may be extended, and if the reasons for designation are not completely resolved, termination of trading support may be decided.

• If the review period for the designation is extended or the termination of trading support is decided, guidance will be provided through a separate notice, and the exact schedule will be announced through that notice.

• Digital assets designated as Trading Caution Items cannot be reflected as deposits after the posting of this notice, and all deposits will be subject to return.

• Upbit's designation of digital assets as Trading Caution Items and termination of trading support are based on the [Digital Asset Trading Support Termination Policy](https://static.upbit.com/guide/market_policy_close.pdf).

Notice of Temporary Suspension of Deposits

• Target digital asset: Boundless (ZKC)

• Deposit blocking time: 2025-10-02 (Tue) 21:30 KST

*Resumption of deposit services will be announced according to the procedures following designation as a Trading Caution Item.

Notes Regarding Deposits

• If ZKC is deposited after the suspension of deposit support, the deposit may not be reflected in the Upbit account, and in such cases recovery may be impossible. Please be aware of this and do not deposit after the suspension of deposit support. During the suspension of deposit support, the deposit return procedure for the relevant digital asset will be temporarily suspended, and returns will be processed sequentially after deposit support resumes.

• If deposit suspension occurs, deposit processing may be delayed due to reasons such as network congestion, and there may be a difference between the blockchain network transaction confirmation completion time and the time the deposit is reflected.

Deposits may occur on some blockchain networks before or after the deposit suspension time, but depending on our wallet system processing status, normal processing is not possible during the inspection period, and after the inspection is completed, they will be processed sequentially after a confirmation process, so reflection to member accounts may be delayed.

• In the case of unplanned inspections such as wallet or network maintenance, deposits may occur on some blockchain networks before or after the notice, but depending on our wallet system processing status, normal processing is not possible during the inspection period, and after the inspection is completed, they will be processed sequentially after a confirmation process, so reflection to member accounts may be delayed.

• If any special matters occur regarding the resumption of deposit support, we will notify you through this notice.

Upbit will always do its best to ensure your safe trading.

Thank you.

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

*This information is generated automatically.