PANews reported on October 2nd that according to an official announcement, the South Korean cryptocurrency exchange Upbit announced that, based on the joint decision of the Digital Asset Exchange Association (DAXA), it has designated Boundless (ZKC) as an "investment warning" currency and suspended its recharge service from 20:30 today (Beijing time).

Upbit stated that after evaluating the ZKC project, it found numerous deficiencies in its planned circulation volume changes, transparency, and rationality of information disclosure. The announcement stated that Upbit engaged in discussions with the project after discovering that the project's circulation volume exceeded its original plan, but these concerns were not resolved.

The "Investment Warning" designation period will last until October 17th. During this period, Upbit will further review the project and may decide to terminate trading support (delist) if the issues are not fully resolved.