The Flow Foundation and Dapper Labs have filed a petition with the Seoul Central District Court to suspend trading support on major South Korean exchanges for the original Flow blockchain token FLOW.
Conclusion
- Flow Foundation and Dapper Labs have asked a Seoul court to halt the planned suspension of FLOW trading on Upbit, Bithumb and Coinone.
- An exploit in December 2025 allowed an attacker to duplicate approximately $3.9 million in tokens, but reports after the incident confirmed that user balances were not affected.
According to the March 8 announcement, the companies are asking the court to temporarily suspend the decision to delist Upbit, Bithumb and Coinone, which announced plans to stop supporting token trading on February 12 following a security incident on the Layer 1 blockchain.
As previously reported by crypto.news, on December 27, the Flow blockchain suffered a protocol-level exploit that allowed an attacker to mint approximately $3.9 million in duplicate tokens.
Although published post-mortem reports confirmed that the incident did not affect user balances, it caused a temporary shutdown of the network and prompted validators to take emergency measures to halt the chain and work with exchange partners to freeze and recover funds related to the attack.
Flow initially proposed a full on-chain refund plan, which faced opposition from ecosystem partners who were concerned that it could create a double balance for users who redeemed assets during the refund window and losses for those who closed their assets to the network during the same period.
The developers later opted for a separate recovery plan by targeting and destroying duplicate tokens in order to maintain legitimate user activity on the network.
Several exchanges have suspended FLOW trading and services since the incident, including Upbit, Bithumb and Coinone, which is the focus of the Flow Foundation’s lawsuit.
However, after conducting individual reviews of the incident and corrective measures taken by the project, many of these platforms have since restored full token services.
The foundation claims that the FLOW token will remain available on major global exchanges, including Binance, Coinbase, Kraken, while Korbit will continue to support FLOW trading in South Korea.
“Given the weight of the new evidence, Flow Foundation and Dapper Labs have filed a motion with the Seoul Central District Court to request a suspension of the business suspension pending a comprehensive review,” the foundation said.
“This step reflects the Foundation’s responsibility to support the Korean community using every available means. The Foundation is open to constructive dialogue with all relevant parties,” he added.
The court is scheduled to consider this application on March 9 and determine further measures in this case.
In addition, the fund said it will continue to list additional exchanges in South Korea and expand “self-referral access options” for affected users.
At last check, the FLOW token was down 6.4% over the past 24 hours and was trading 99.9% off its all-time high.
