[Upbit] Notice of Lifting of Synthetix (SNX) Designated as a Cautionary Item

Exchange Announcement Bot

Summary

Upbit announced that the cautionary designation on Synthetix (SNX) has been lifted.
It stated that the depegging issue of sUSD price has been recovering due to incentive mechanisms introduced by SNX, reducing the risk of user loss.
It also cautioned that depending on the application of future best practices in trading support, there may be another cautionary designation or delisting for SNX.

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

We would like to inform you that the cautionary designation on Synthetix (SNX) has been lifted.

We kindly ask that members holding this digital asset review the details below regarding the reasons for lifting the cautionary designation.

[Notice of Reasons for Lifting the Cautionary Designation]

Synthetix (SNX)

Target Market: SNX/BTC
Reasons for Lifting the Cautionary Designation
Due to the ongoing situation where the price of the over-collateralized stablecoin sUSD, which uses SNX as collateral, failed to remain pegged to 1 USD, there were concerns about potential user losses caused by sharp price fluctuations in SNX. DAXA determined that cautionary designation and delisting discussions regarding SNX should be addressed jointly, and the cautionary designation was placed jointly on 2025.04.24.
However, as SNX introduced various incentive mechanisms, the depegging of sUSD has been steadily recovering, and it has been determined that the possibility of user loss caused by the utility, purpose, or function of the SNX virtual asset is now low.
Accordingly, Upbit will lift the cautionary designation on SNX as of 2025.06.24. However, depending on the future application of best practices in virtual asset trading support, cautionary designation and trading support termination for SNX may be reimposed.

* Related link: [Notice of Synthetix (SNX) Cautionary Designation](https://upbit.com/service_center/notice?id=5063)

* Related link: [Notice of Synthetix (SNX) Cautionary Designation Extension](https://upbit.com/service_center/notice?id=5174)

[Notice of SNX Deposit Service Resumption]

As the cautionary designation is lifted, SNX deposit service will soon be resumed.
Any deposit transactions made during the suspension period will be reflected sequentially after deposit resumption.
Please be aware that sharp price fluctuations may occur upon resumption due to price differences with overseas exchanges.

Upbit will always do its utmost to ensure your safe trading experience.

Thank you.

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

*This information is automatically generated.

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