Upbit, Bithumb, Coinone Place BLAST on Trading Warning Lists

Three Korean Venues Act in Unison

BLAST still trades on every venue that listed it, but the token's standing in South Korea changed on Friday when Upbit, Bithumb and Coinone simultaneously designated it an investment-warning asset, the caution status Korean exchanges apply when an altcoin is judged to carry elevated risk for users. The notices stop short of delisting: order books remain open on all three platforms for now. What triggered the scrutiny is no mystery. The Blast Foundation has already announced plans to end mainnet operations, telling holders that deteriorating profitability left maintenance costs running above revenue. The network will shut down with an October 26 withdrawal deadline for funds to leave the chain, and COINOTAG's related coverage of the permanent shutdown details that timeline in full. The shutdown decision rested on economics alone; neither the foundation nor the exchanges named any security incident. Blast runs as an Ethereum layer-2 blockchain, settling to Ethereum while executing transactions in its own environment. The joint designations arrive after the core decision was already public, so the exchanges are closing a surveillance gap rather than reacting to fresh disclosures. Korean venues run their own token-surveillance frameworks, and the same asset drawing a simultaneous caution from all three of the country's dominant platforms amounts to a coordinated response to the shutdown news rather than three independent discoveries. The effect is still immediate. The three KRW venues handle the deepest won liquidity for the token, and the BLAST price now trades under a formal risk label in its most concentrated retail market, with the chain itself set to go dark this month. For holders, the label matters less as a trading restriction than as a sign of where each review is heading, because a warning under Korean practice is the step that precedes a delisting determination.

Upbit Halts Deposits, Sets October 16 Review

Upbit's own notice carries the operational detail, and it is more restrictive than the shared label implies. Deposits were temporarily suspended when the warning went live, and the exchange told users not to send BLAST to deposit addresses during the review, because incoming transfers may not be credited to their accounts and, in some cases, may be unrecoverable. The warning spans every BLAST market Upbit operates: the KRW, BTC and USDT pairs. The stated grounds are specific: the exchange's evaluation found deficiencies in the reality and sustainability of the project's commercial activities, and it framed the measure as protection for users. The review window runs into the third week of October, October 12 through 16, and the notice lists three outcomes: the warning can be lifted, the assessment can be extended, or trading support can end altogether. Upbit states explicitly that a delisting decision can follow if the underlying problems are not fully resolved, with any termination date to be announced in a separate notice. That leaves holders inside a narrow, defined window: deposits are already cut, trading continues under the warning label, and the delisting question resolves within roughly two weeks of the announcement. The custody implication stacks on top of the network's own deadline. Exchange-held balances carry venue-level risk in addition to the shutdown itself, so moving holdings to self-custody, whether a hardware wallet or another non-custodial arrangement, removes that second layer while the withdrawal window remains open. Bithumb and Coinone posted the same designation on Friday; their announcements, as published, do not yet include pair-level operational detail comparable to Upbit's. For now, all three venues continue to quote the token, which keeps a full exit route open to Korean holders until any review concludes.

Where BLAST Still Trades

The load-bearing documents here are the exchanges' own announcements, and COINOTAG's reading is that the warning is a precursor instrument rather than a verdict. Upbit keeps three BLAST markets open while its review runs to October 16, and the other two KRW venues that flagged the token this week have announced no suspension beyond the warning label. This reporting covers the Korean venues alone; it does not establish where else BLAST trades. The dates frame the endgame: Upbit's review closes on October 16, ten days before the network's October 26 withdrawal deadline. Traders reassessing exposure before those dates can compare options in our Best Crypto Exchanges guide.