[Upbit] Notice of Designation of Boundless (ZKC) as a Cautionary Trading Item

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

Boundless (ZKC) has been designated as a cautionary trading item, and accordingly, deposit services will be temporarily suspended. (Enforcement Decree of the Act on the Protection of Virtual Asset Users, Article 17(1) subparagraph ma)

*Boundless (ZKC) has been designated as a cautionary trading item by member companies of the Digital Asset Exchanges Association (DAXA).

DAXA member companies may take measures such as issuing cautionary notices, designating cautionary trading items, or terminating trading support in the interest of user protection.

Below are the detailed reasons for the designation as a cautionary trading item. Members who hold the relevant digital asset are requested to check the following.

Reasons for Designation as a Cautionary Trading Item

• Target markets: ZKC/KRW, ZKC/BTC, ZKC/USDT

• Reasons for designation as a cautionary trading item

• Upbit has confirmed that, when comprehensively considering the model cases for virtual asset trading support, there are multiple deficiencies such as the details and extent of changes to the circulation plan, whether procedures required for changes exist, the transparency and reasonableness of change procedures, whether and to what extent disclosures regarding important matters related to the virtual asset were made, and acts of arbitrarily changing important matters without justifiable reasons, and that these could cause user harm. From the moment the excess circulation plan was discovered until now, we have communicated with the foundation, but the related questions have not been resolved. Therefore, Upbit designates Boundless (ZKC) as a cautionary trading item to protect investors.

• Upbit continuously monitors important matters that can materially affect users' reasonable investment decisions or the value of the digital asset, such as total supply and circulation plans. If suspicious or insufficient aspects are found, we will strive to protect investors through prompt measures and close communication with the foundation.

• Designation period: 2025-10-02 (Thu) 21:30 KST \~ 2025-10-17 (Fri) 23:59 KST

Steps After Designation as a Cautionary Trading Item

• When designated as a cautionary trading item, Upbit generally conducts a detailed review of the relevant digital asset to determine whether to extend the designation, lift it, or ultimately terminate trading support.

• Upbit will conduct the review after designation in accordance with the [Digital Asset Trading Support Termination Policy](https://static.upbit.com/guide/market_policy_close.pdf). The review process may extend the review period for designation, and if the reasons for designation are not fully resolved, termination of trading support may be decided.

• If the review period for designation is extended or termination of trading support is decided, we will notify you via a separate announcement, and the exact schedule will be provided through that announcement.

• Digital assets designated as cautionary trading items cannot accept deposits from the time this notice is posted, and all deposit transactions are subject to return.

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

Temporary Suspension of Deposits

• Target digital asset: Boundless (ZKC)

• Deposit block time: 2025-10-02 (Tue) 21:30 KST

*Resumption of deposit services will be announced according to the procedures following the designation as a cautionary trading item.

Deposit-related Precautions

• If ZKC is deposited after the deposit support suspension time, the deposit may not be reflected in the Upbit account, and such cases may be irrecoverable. Please note this and do not deposit after the deposit support suspension time. During the deposit support suspension period, deposit return procedures for the relevant digital asset will be temporarily suspended and will be processed sequentially after deposit support is resumed.

• If deposit suspension occurs, deposit processing may be delayed due to network congestion, and there may be differences between the blockchain transaction confirmation time and the time the deposit is reflected.

Deposits may occur on some blockchain networks before or after the deposit suspension time, but depending on our wallet system processing status, normal processing may not be possible during the inspection period, and after the inspection ends, confirmation will be performed and processed sequentially, so reflection in member accounts may be delayed.

• In the case of unscheduled wallet inspections or network inspections, deposits may occur on some blockchain networks before or after the announcement, but depending on our wallet system processing status, normal processing may not be possible during the inspection period, and after the inspection ends, confirmation will be performed and processed sequentially, so reflection in member accounts may be delayed.

• If any special matters arise regarding the resumption of deposit support, we will notify you through this announcement.

We will always do our best to ensure your safe trading on Upbit.

Thank you.

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

*This information is generated automatically.