South Korea’s largest cryptocurrency exchange Upbit will end trading support for ICON’s ICX token by delisting the ICX/KRW pair on October 19, 2026. The exchange confirmed the move in a trading-support termination notice, completing a review that began in late August when ICX was first designated an investment caution asset over unresolved security risks.
Trading for ICX against the Korean won will stop at 3:00 p.m. Korea Standard Time on October 19, and all outstanding orders will be cancelled once support ends. Upbit also said it will no longer process airdrops, wallet upgrades, migrations, or hard forks for the asset after the deadline, and holders must complete withdrawals by November 18, 2026. The exchange urged users to settle pending trades and move assets before those dates to avoid disruption.
Upbit attributed the delisting to security incident risks surrounding ICON that were never resolved. ICX was placed on an investment caution list in late August, a designation used to warn traders ahead of a potential delisting, and the token’s status was not lifted in the weeks that followed. The caution designation sits within Upbit’s listing-review framework, under which assets that do not remedy flagged risks within the review window are ultimately removed from trading.
ICON is a Layer 1 blockchain launched in 2017, and ICX is its native token, once among the most recognizable Korean blockchain projects. Built by the Seoul-based ICON Foundation, the network aimed to connect institutions and communities through interoperable blockchains. ICX had traded against the won on Upbit for years, making the removal a notable development for domestic traders who used the pairing as a primary on- and off-ramp.
Separately, Upbit’s recent listing of the yen stablecoin JPYC recorded sharp volatility. JPYC began trading at 6:00 p.m. and reached 35.7 won within 40 minutes, a 197.5% increase from its opening price, before later returning to around eight won. Around 120 billion won in buy orders arrived immediately after the listing, and Upbit accounted for approximately 90% of JPYC trading volume at the time. Deposits and withdrawals initially remained unavailable, preventing holders from bringing external tokens onto Upbit to sell, until the exchange opened both services at 6:50 p.m., about 50 minutes after trading began.
