[Upbit] Notice on Designation of StormX (STMX) as a Cautionary Item

Hello. This is Upbit, the most trusted global standard digital asset exchange.

StormX (STMX) has been designated as a cautionary item, and as a result, the deposit service will be temporarily suspended. (Article 17, Paragraph 1, Subparagraph 1 of the Enforcement Decree of the Virtual Asset User Protection Act)

*StormX (STMX) has been designated as a cautionary item by the members of the Digital Asset Exchange Joint Consultative Body (DAXA).

DAXA members can take measures such as urging caution, designating cautionary items, and terminating transaction support to protect users.

Below, we provide detailed reasons for the designation of the cautionary item, so members holding the relevant digital asset should check the following details.

[Reasons for Designation of Cautionary Item]

• Target Market: STMX/KRW, STMX/BTC

• Reasons for Designation as a Cautionary Item

• Upbit has confirmed that there are numerous deficiencies in StormX (STMX) when comprehensively considering the disclosure status and degree of important matters related to the virtual asset by the issuer or operator, the existence of necessary procedures for changes, the reality and sustainability of the business related to the virtual asset, which may cause harm to users. Therefore, Upbit designates StormX (STMX) as a cautionary item to protect investors.

• Cautionary Item Designation Period: May 19, 2025 (Mon) 15:00 KST ~ June 2, 2025 (Mon) 23:59 KST

[Steps After Designation as a Cautionary Item]

• Once designated as a cautionary item, Upbit generally conducts a detailed review of the digital asset to determine whether to extend, lift, or finally terminate transaction support.

• Upbit plans to conduct a review based on the [Digital Asset Transaction Support Termination Policy](https://static.upbit.com/guide/market_policy_close.pdf) regarding the reasons for designation as a cautionary item after the designation.

• During the review process, the review period for the designation as a cautionary item may be extended, and if the reasons for designation are not completely resolved, the termination of transaction support may be decided.

• If the review period for the cautionary item designation is extended or the termination of transaction support is decided, a separate notice will be provided, and the exact schedule will be announced through the notice.

• Digital assets designated as cautionary items cannot be reflected in deposits after the time of this notice, and all deposits will be subject to return.

• Upbit's designation of digital asset cautionary items and termination of transaction support are based on the [Digital Asset Transaction Support Termination Policy](https://static.upbit.com/guide/market_policy_close.pdf).

[Notice on Temporary Suspension of Deposits]

• Target Digital Asset: StormX (STMX)

• Deposit Block Time: May 19, 2025 (Mon) 15:00 KST

• Notice on Resumption of Deposits: To be announced according to the procedures after designation as a cautionary item

[Precautions Related to Deposits]

• After the deposit support suspension time, STMX deposits may not be reflected in the Upbit account, and if such a case occurs, recovery may not be possible. Please be careful not to deposit after the deposit support suspension time. During the deposit support suspension period, the deposit return procedure for the relevant digital asset will be temporarily suspended and will be processed sequentially after the deposit support resumption time.

• If a deposit suspension occurs, there may be delays in deposit processing due to reasons such as network congestion, and there may be a difference between the confirmation time of the transaction on the blockchain network and the deposit reflection time.

• Deposits may occur on some blockchain networks before or after the deposit suspension time, but normal processing is not possible during the inspection period according to the processing status of our wallet system, and processing may be delayed as it is processed sequentially after the inspection is completed.

• In the case of unplanned inspections such as wallet inspections and network inspections, deposits may occur on some blockchain networks before or after the notice, but normal processing is not possible during the inspection period according to the processing status of our wallet system, and processing may be delayed as it is processed sequentially after the inspection is completed.

• If any special circumstances arise regarding the resumption of deposit support, we will inform you through this notice.

Upbit will always do its best to ensure safe transactions for our members.

Thank you.

※ Virtual assets are high-risk products that can result in the loss of all or part of your investment.

*This information is automatically generated.