Upbit and Bithumb will end trading support for Storj (STORJ), JasmyCoin (JASMY) and ThunderCore (TT) on Sept. 14 after concluding that the issues behind earlier warning designations remained unresolved.
Summary
- Upbit will delist STORJ, JASMY and TT on September 14 after warning issues remained unresolved.
- Bithumb announced matching delistings, setting the same September 14 trading cutoff for all three tokens.
- Withdrawals on Upbit remain available until October 14, giving holders one month after trading ends.
- Storj Labs entered Chapter 11 in July, while its decentralized storage network continues operating normally.
- ThunderCore disputes the exchanges’ concerns, saying its network, issuance mechanism and operations remain normal currently.
Upbit’s notice covers STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC, with trading scheduled to stop at 3:00 p.m. KST. Bithumb independently confirmed the three delistings Friday.
All open orders will be canceled when support ends. Upbit will keep withdrawals available until Oct. 14. Bithumb separately announced the same Sept. 14 trading cutoff and Oct. 14 withdrawal deadline for all three assets, confirming that the action is not limited to one Korean exchange.
Upbit says the warning issues were not resolved
Upbit first placed STORJ under a trading warning on July 28. The exchange said its review considered disclosure of important information, the substance and sustainability of the project and its actual progress. Deposits were suspended when the warning was issued, and Upbit said it would decide during the Aug. 10 to Aug. 14 review window whether to extend, remove or escalate the designation.
The warning came two days after Storj Labs filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of West Virginia. Storj said case No. 5:26-bk-00512 was intended to address legacy liabilities while keeping its decentralized storage business operating. Upbit did not say the bankruptcy filing by itself caused the delisting.
As crypto.news reported, Storj Labs filed for Chapter 11 while keeping its cloud services active. The company has also floated a possible ownership mechanism for STORJ holders in a reorganized business. That remains a proposal rather than a confirmed recovery for token holders, and any arrangement would depend on the bankruptcy process.
JASMY and TT failed to clear later reviews
Upbit designated JASMY and TT as warning assets on July 31 and suspended deposits. For JASMY, the exchange cited shortcomings in disclosures about matters capable of materially affecting the asset, alongside concerns involving business substance, sustainability and actual progress.
For TT, Upbit also raised questions about the project’s operations, while the original review covered issuance and circulation related concerns. Bithumb’s final notice said the warning reasons for STORJ, JASMY and TT had not been resolved. No new Jasmy response addressing Friday’s delisting was identified in the official materials reviewed.
The decisions come as Korean exchanges continue applying post-listing reviews to supported assets. In related coverage, Upbit moved to remove NKN after its warning review, another case in which a caution designation preceded termination of trading support.
ThunderCore disputes the exchanges’ assessment
ThunderCore has disputed the characterization behind TT’s warning designation. In an Aug. 1 statement, the project said plans involving TT had been publicly communicated and that changes to issuance, network parameters and token economics had been disclosed to Upbit and Bithumb. It maintained that “the network, the issuance mechanism, and the project’s operational condition remain normal.” That is ThunderCore’s position and conflicts with the exchanges’ decision to maintain their concerns.
ThunderCore also updated its circulating supply estimates in June after a governance proposal allowed block issuance to be adjusted from zero to 135 TT by vote. Its official blog lists a new Aug. 14 update concerning Upbit and Bithumb trading support, but both exchanges still proceeded with delisting.
What happens next for STORJ, JASMY and TT
Upbit users can trade the six affected pairs until 3:00 p.m. KST on Sept. 14. Any unfilled buy or sell orders will then be canceled. Withdrawals remain supported until 3:00 p.m. KST on Oct. 14, giving users another month to move assets to compatible wallets or other venues.
Bithumb set the same dates and warned that withdrawal processing may require advance address registration. The exchange also said technical support can become limited after the withdrawal window closes. Delisting does not disable the underlying networks or tokens, but it removes the affected trading markets from two major South Korean venues.
