Key Insights:
- Upbit and Bithumb worked in tandem to cut back access to Korean traders for all three assets.
- It was not just price performance that was the subject of Exchange reviews; it was disclosure quality, project execution and token governance as well.
- The one-month withdrawal period will ensure that assets can be shifted over, while trading liquidity will be reduced.
Upbit will end trading support for STORJ, JASMY and TT on September 14 across six markets. South Korea’s largest crypto exchange said unresolved warning issues still posed material risks for users.
Trading will stop at 3 p.m. Korea Standard Time, covering STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC. The exchange will cancel all open orders when support ends. Withdrawals will remain available until October 14.
South Korea’s Largest Crypto Exchange Upbit to Delist STORJ, JASMY and TT
Upbit will end trading support for STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC at 2:00 p.m. UTC+8 on September 14, with all open orders canceled. Upbit said the issues behind the… pic.twitter.com/guXISACVha
— Wu Blockchain (@WuBlockchain) August 14, 2026
Warning reviews lead to delisting
Upbit placed STORJ under an investment warning on July 28 and suspended deposits. The exchange reviewed disclosures, business substance, sustainability and the project’s actual progress.
Two days earlier, Storj Labs filed for Chapter 11 bankruptcy protection in West Virginia. The company said the filing addressed legacy liabilities while its decentralized storage services continued operating.
The exchange did not identify the bankruptcy filing as the sole reason for delisting. However, the event added financial uncertainty during the exchange’s review period.
The exchange added JASMY and TT to its warning list on July 31. Deposits for both assets were also suspended while the exchange examined unresolved concerns.
For JASMY, reviewers focused on disclosures that could materially affect investors. They also questioned the project’s business substance, sustainability and demonstrated progress.
For TT, the review centered on token issuance, circulation plans and changes to the business plan. Reviewers also examined whether related procedures were transparent, reasonable and properly communicated.
Bithumb matches the September timetable
Bithumb said it will match the delistings of all three assets with a trading cutoff on September 14. It will also be open for withdrawals until 14th October. The coordinated action broadens the effect beyond one exchange. It removes key Korean trading venues for three tokens at the same time.
The exchange said users may withdraw assets to compatible external wallets or other supporting platforms. It will stop supporting airdrops, wallet upgrades and hard forks after the delisting announcement.
Bithumb also warned that some withdrawals may require advance address registration. Technical assistance could become more limited after its withdrawal window closes.
Market reaction showed immediate pressure after the notices.
Asset Reported move Market context
TT Down 6.62% Sharpest immediate decline
JASMY Down 5.25% Largest market value among the three
STORJ Down 1.98% Recovered from an earlier drop
Separate market data also showed STORJ higher over a previous 24-hour period. JASMY traded lower during that same update window.
ThunderCore challenges the exchanges’ findings
ThunderCore disputed the concerns behind TT’s warning designation in an August 1 statement. The project said its network and issuance mechanism remained normal.
ThunderCore also said it had disclosed token economic changes to both Korean exchanges. Its position conflicts with their final decision to terminate support.
The project had updated circulating supply estimates after a governance change in June. That proposal allowed block issuance to increase from zero to 135 TT through voting.
Jasmy had not issued a newly identified response addressing the final Friday delisting notice. Storj continued operating its cloud services during bankruptcy proceedings.
Storj has also discussed a possible ownership mechanism for STORJ holders in a reorganized company. Any such plan would still require court approval.
Broader implications for Korean crypto listings
The new action demonstrates the impact of post-listing reviews on access once a token is listed on big exchanges. There are instances when projects do not meet review criteria and become formal delistings.
For investors, the process has not only a volatile market risk, but also operational risks. Holders need to monitor their trading deadline and withdrawal windows for each venue, as well as suspension of deposits.
There is now a direct market impact for disclosure standards for token issuers. Weak reporting can reduce exchange access even when underlying networks remain active.
The exchange has recently used the same warning process for other assets, including NKN. The exchange also moved to remove BONK effective September 7.
That pattern suggests Korean platforms are applying tighter scrutiny after listing. The focus includes project sustainability, governance changes, circulation plans and investor disclosures.
Conclusion
Unactioned warning reviews will lead Upbit to delist STORJ, JASMY and TT trading pairs on September 14. Bithumb will be following the same pattern and increase the market impact in the country of South Korea.
Withdrawals remain open until October 14, giving holders one month to transfer assets. The networks may continue operating, but local exchange access will contract sharply.
