Upbit said it will stop supporting trading for Storj, JasmyCoin and ThunderCore on September 14 at 3 p.m. KST, removing six markets from South Korea’s largest crypto exchange. The delisting notices were posted Friday afternoon in Seoul after what the exchange described as follow-up reviews of earlier investment-caution designations.

According to Upbit, the concerns that led to those warnings were not resolved. The exchange said the issues it examined could expose users to potential losses, and it outlined separate areas of concern for the three projects.

Assets and pairs affected

The decision covers Storj, listed as STORJ, JasmyCoin, or JASMY, and ThunderCore, or TT. Upbit said trading support will end for STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW and TT/BTC.

While trading will end in mid-September, withdrawals for all three assets will remain available for 30 days after the cutoff, through October 14, 2026. Upbit also said it will no longer provide related services for the tokens after the announcement, including support tied to airdrops, wallet upgrades and hard forks. Any open buy or sell orders will be canceled once trading support ends.

Why Upbit said it moved to delist

Upbit first placed STORJ under investment caution on July 28. JASMY and TT were added to that category on July 31. In Friday’s notices, the exchange said subsequent reviews found that the original concerns remained unresolved.

For STORJ and JASMY, Upbit cited shortcomings around the disclosure of important information as well as questions about the reality, sustainability and progress of each project’s business. In TT’s case, the exchange said it also reviewed total supply, circulation plans and changes to the project’s business plan, including whether those changes followed proper procedures and whether they were transparent and reasonable.

Market reaction after the notices

All three tokens moved lower shortly after the announcements. TT fell 6.62%, JASMY dropped 5.25% and STORJ was down 1.98% after partially recovering, according to the source report.

Over a longer stretch, ThunderCore has seen the sharpest losses among the three. Its market value was reported near $1.9 million after a 24-hour decline of more than 57% and a drop of nearly 80% over 30 days. JASMY remained the largest by market capitalization at about $195 million and was down 3.6% over the past month. STORJ’s market capitalization stood near $19 million, down about 40% over 30 days.

Additional pressure on Storj and the next dates to watch

STORJ is also dealing with a separate issue outside the Upbit review. Storj Labs filed for Chapter 11 bankruptcy last month. The company said it plans to propose a mechanism that would let token holders participate in the equity of the restructured business, but it added that any such plan would require court approval and would need to respect the legal priority of stakeholders, with creditors ahead of equity.

The next confirmed milestone from Upbit is the September 14 trading cutoff. After that, withdrawals are scheduled to remain open until October 14, 2026, after which the exchange’s support window described in the notice will close.

Source: beincrypto.com