South Korea’s largest cryptocurrency exchange, Upbit, will end trading support for ICON’s ICX token by delisting the ICX/KRW pair on October 19, 2026. The exchange confirmed the move in a trading-support termination notice, completing a review that began in late August when ICX was first designated an investment caution asset over unresolved security risks. The decision removes the token’s main won-denominated market and gives holders a fixed window to exit before support ends.
Delisting Timeline and Mechanics
Trading for ICX against the Korean won will stop at 3:00 p.m. Korea Standard Time on October 19, and all outstanding orders will be cancelled once support ends. Upbit also said it will no longer process airdrops, wallet upgrades, migrations, or hard forks for the asset after the deadline, and holders must complete their withdrawals by November 18, 2026. The exchange urged users to settle any pending trades and move assets before those dates to avoid disruption. The sequence mirrors Upbit’s September decision to end trading support for Synthetix (SNX), another project it had flagged for review.
Why ICON Is Being Delisted
Upbit attributed the delisting to security incident risks surrounding ICON that were never resolved. The exchange placed ICX on an investment caution list in late August, a designation it uses to warn traders ahead of a potential delisting, and the token’s status was not lifted in the weeks that followed. The caution designation sits within Upbit’s listing-review framework, under which assets that do not remedy flagged risks within the review window are ultimately removed from trading. Upbit has applied the same designation to other assets, including SAND, which it placed on investment caution earlier this year alongside rival exchange Bithumb.
Context for ICON and Korean Traders
ICON is a Layer 1 blockchain launched in 2017, and ICX is its native token, once among the most recognizable Korean blockchain projects. Built by the Seoul-based ICON Foundation, the network aimed to connect institutions and communities through interoperable blockchains. ICX had traded against the won on Upbit for years, making the removal a notable development for domestic traders who used the pairing as a primary on- and off-ramp. The delisting narrows the venues where those traders can buy and sell ICX, and it reflects Upbit’s broader push to tighten listing standards as regulators step up scrutiny of exchange-listed assets in the country.
