South Korea's Leading Cryptocurrency Exchange Upbit Announced That It Has Delisted This Altcoin! Here Are the Details
## **Upbit to Delist Hifi Finance (HIFI) on May 12, 2025, Citing Transparency and Sustainability Concerns**
South Korea’s largest cryptocurrency exchange, **Upbit**, has announced the termination of trading support for **Hifi Finance (HIFI)**, effective **May 12, 2025**. The decision follows the project’s failure to resolve key issues related to transparency and long-term viability, which were first flagged in March.
### **Background: Investment Warning Issued in March**
HIFI was placed under **investment alert status** on **March 28, 2025**, after Upbit identified several red flags during its internal review, conducted under its **Best Practices for Digital Asset Trading Support**. Since then, the exchange has closely monitored the project, requesting clarification and corrective action.
Despite this grace period, Upbit stated that Hifi Finance failed to adequately address the concerns raised.
### **Delisting Timeline and Trading Impact**
Trading for the following HIFI pairs will be terminated at **17:00 KST on May 12, 2025**:
- **HIFI/KRW**
- **HIFI/BTC**
All outstanding buy and sell orders will be automatically canceled at the time of delisting.
Additionally, Upbit confirmed that **all HIFI-related services**—including support for airdrops, wallet upgrades, and hard forks—will be discontinued immediately as of the announcement date.
### **Key Reasons for Delisting**
According to Upbit’s official statement, the decision to delist HIFI was based on several unresolved issues:
- **Unilateral changes to important project components** without proper justification or community communication.
- **Alterations to token issuance volume and distribution plans** lacking transparency.
- **Shifts in business direction** that were neither clearly explained nor aligned with previous commitments.
- Overall **concerns regarding the project's legitimacy and sustainability**.
Upbit emphasized that these issues violate its internal compliance and support standards for digital assets listed on the platform.
### **Withdrawal Deadline: June 12, 2025**
While trading will end on May 12, users will still be able to withdraw their **HIFI tokens until June 12, 2025**. Upbit strongly advises users to complete all withdrawals before the deadline, noting that **recovering mistakenly deposited tokens after this period may be delayed or technically unfeasible**.
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### **What This Means for Investors**
The delisting of HIFI highlights Upbit’s ongoing efforts to maintain a high standard of transparency and user protection in its listings. For current HIFI holders, prompt action is recommended to ensure access to their funds before the withdrawal window closes.