Non-profit organization Flow Foundation and its parent company Dapper Labs filed an appeal with the Seoul Central District Court on Monday to stop support for trading FLOW, its original token, on three South Korean exchanges.
Layer-1 blockchain Flow suffered a “security incident” in December when an attacker exploited a vulnerability that allowed certain assets to be duplicated rather than minted and bypass supply controls without accessing or draining users’ balances.
The exploit yielded $3.9 million worth of duplicate tokens, but “no user funds were compromised and all fake tokens were permanently deleted.”
Several exchanges suspended trading of FLOW tokens after the incident due to the impact of duplicate tokens on their value and network reliability.
Among them were major Korean exchanges Upbit, Bithumb and Coinone, which announced on February 12 that they would stop supporting FLOW trading on March 16.
However, the Flow Foundation claimed that all major global exchanges have now “independently reviewed and restored FLOW’s full services” and said it “remains committed to providing open access to FLOW in all markets.”
FLOW is available on major exchanges
The Seoul Central District Court will hear the application on March 9 and determine the next steps.
The foundation stated that the token “will remain fully available on major global exchanges, including Coinbase, Kraken, OKX, Gate.io, HTX, Binance and Bybit, and Corbit will continue to support FLOW trading in Korea.
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Dapper Labs, creators of the NFT CryptoKitties project, announced the development of Flow in 2019 as a new layer 1 blockchain designed to solve scalability issues with Web3 games and digital collections.
The Flow ecosystem continues to grow, the fund said. Disney, the NBA, the NFL and Ticketmaster are all seeing success as they actively build on the blockchain, he added.
FLOW descends from the highest level
But this is not the case for the FLOW token.
The stock rallied significantly after the announcement, but has fallen 75% since the event in late December and is now trading at $0.043.
According to CoinGecko, FLOW has fallen 99.9% from its 2021 high, when it reached $42. The total value closed on the platform has decreased by 82% from November 2025 to 21 million dollars, reports DeFiLlama.
Meanwhile, according to CoinGecko, the total NFT market cap has fallen from its peak of about $17 billion in mid-2022 to about $1.4 billion today.
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