Upbit flags SOPH as Binance drops 7 USDC pairs

Upbit has placed Sophon (SOPH) under a trading warning and suspended deposits, while Binance has scheduled seven USDC spot pairs for removal on Sept. 25.

Upbit designated SOPH as a trading-caution asset at 3:00 p.m. Korea Standard Time on Sept. 22, covering SOPH/KRW, SOPH/BTC and SOPH/USDT. The South Korean exchange cited shortcomings involving disclosure, changes to the token’s circulation plan and the procedures used to make those changes. The exchange said its review found “numerous deficiencies” and a “potential for user harm.”

SOPH deposits were blocked when the notice was published, while existing spot markets remain available during the assessment. Deposits sent after the 3:00 p.m. KST cutoff will not be credited normally and are subject to return, according to the notice. Deposit-return processing is suspended while deposit support remains closed and would resume sequentially once the service becomes available.

The warning focuses heavily on information supplied to investors. Upbit said its assessment considered whether material information had been disclosed on time through appropriate electronic channels, the scale of changes to SOPH’s circulation plan and whether procedures governing such changes were sufficiently transparent and reasonable.

Upbit’s published post-listing framework explains that warning cases can involve project circumstances, technology, technical support and trading conditions. A project can have the warning lifted if the underlying problem is resolved, while unresolved concerns can lead to termination after a review period. A recent example showed the other possible outcome. Crypto.news reported that Upbit removed a warning after reviewing the TAIKO security incident and project remediation measures in July. The exchange resumed deposits once it determined the issues behind the designation had been addressed.

Upbit’s warning period runs from Sept. 22 through the second week of October, which the exchange defined as Oct. 12–16. During that window, the exchange