Flow Foundation and Dapper Labs have filed a motion with the Seoul Central District Court seeking a suspension of trading terminations for its FLOW token on three major Korean exchanges.
The court is scheduled to review the application today, giving the Foundation days to halt the exchange delistings before the March 16 deadline takes effect.
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Why it matters:
- South Korean FLOW holders face losing access to domestic exchange liquidity within one week if the court declines to intervene.
- The delistings affect 3 of South Korea’s largest retail crypto exchanges, cutting off a major regional trading market for FLOW.
- No Korean exchange reported direct financial loss from the December security incident.
The details:
- Upbit, Bithumb, and Coinone announced trading termination in February following a December security incident on the Flow network.
- Major exchanges like Binance and HTX each independently reviewed the incident and restored FLOW services.
- Binance issued a joint resolution on March 6, and the Foundation cited the new evidence warranting review.
- Korbit has also independently cleared FLOW.
The big picture:
- The firm said that no government regulator in any jurisdiction has taken action against FLOW following the December incident.
- Alongside the court filing, Flow Foundation is pursuing new regional listings, expanded self-custody options, and hiring an Asia-Pacific General Manager.
