South Korea’s two largest cryptocurrency exchanges are cutting three altcoins loose. In a joint statement on Friday, Upbit and Bithumb announced they will end trading support for Storj (STORJ), JasmyCoin (JASMY) and ThunderCore (TT) on September 14 — giving holders exactly one month to act before the exits narrow.
By Jennifer Kim | August 14, 2026
The Hook: A Coordinated Delisting from Korea’s Giants
When one exchange delists a token, it can look like a quirk of policy. When Upbit and Bithumb — the two biggest crypto exchanges in South Korea — do it together in a joint statement, it is a verdict. The two platforms said trading support for STORJ, JASMY and TT will terminate on September 14 at 15:00 KST, after concluding that the concerns behind earlier warning designations on the tokens were never resolved.
Upbit alone is removing six trading pairs tied to the three tokens, according to its notice. For global holders, the immediate relevance is concentrated in Korea — but delistings from a market as active as South Korea’s tend to ripple into global liquidity and sentiment for the affected coins.
Why It’s Happening: Warnings That Went Nowhere
These delistings did not come out of nowhere. Korean exchanges operate a public warning system that flags tokens with unresolved risks — and all three coins had already been put on notice:
- Storj (STORJ) — placed under a trading caution designation by Upbit on July 28.
- ThunderCore (TT) and JasmyCoin (JASMY) — both given the same warning designation on July 31.
- The decision — with the flagged issues still unresolved roughly two weeks later, both exchanges concluded the warnings had failed and moved to terminate trading support.
The system works like a probation period at a bank: the token gets flagged, the project gets time to fix whatever worried the exchange, and if nothing changes, the relationship ends. In this case, nothing changed.
The Backstories: Two Very Different Projects, Same Outcome
The three tokens span very different stories. Storj is a decentralized cloud storage project whose operator, Storj Labs, filed for Chapter 11 bankruptcy protection — though reporting notes the storage network itself continues to operate. ThunderCore is a smart contract platform that has publicly disputed the exchanges’ concerns about its network, according to coverage of the delisting. JasmyCoin, from Japan-focused IoT company Jasmy, is one of the more widely held Japanese-issued tokens, which makes its removal from Korean venues particularly notable for regional holders.
The common thread is not a single scandal — it is the exchanges’ conclusion that transparency and risk questions raised in July were never satisfactorily answered. In today’s environment, exchanges are increasingly willing to cut tokens rather than defend them.
What It Means for You: The Real Deadline Calendar
If you hold any of these three tokens, the schedule is unforgiving:
- September 14, 15:00 KST — trading support ends on Upbit and Bithumb. You can no longer sell there.
- October 14 — withdrawal support ends on both exchanges. After this date, assets left on the platforms can no longer be moved out through normal channels.
Practically, holders have two moves: sell before the September cutoff, or withdraw the tokens to a private wallet or another exchange that still lists them before October 14. Waiting until the last week is how people lose access — withdrawal queues congest, and support teams get overwhelmed when everyone acts at once.
For everyone else, the market-implications lesson is broader. Delisting pressure is now a standing risk for mid-cap altcoins everywhere, not just in Korea. Exchanges that once competed on the number of listed tokens now compete on the quality of their listings — and they are pruning accordingly. Coins with unclear disclosures, unresolved legal issues, or fading development activity are the most exposed.
The Verdict: Respect the Deadline, Read the Trend
For holders of STORJ, JASMY and TT on Korean exchanges, this is a practical problem with a hard deadline — act before September 14 if you want to sell on Upbit or Bithumb, and before October 14 no matter what. For the wider altcoin market, it is one more sign that the era of automatic listings is over. The exchanges are sending a message that projects ignore at their peril: answer the warning, or lose the on-ramp.
The cryptocurrency market remains highly volatile. This article is for informational purposes only and does not constitute financial advice.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
when upbit AND bithumb tag team a delisting there is no appeal process. korean volume on jasmy and storj dries up way before sept 14
Korean holders are basically the whole liquidity story for JASMY. Once the Upbit pairs go, the exit window gets very narrow.
held storj since the 2021 storage hype. warning designation, then this. at least the month gives people time, could have been an instant pull
the warning system gave them two weeks and nothing changed. korean exchanges coordinate these delistings so holders can’t arbitrage between upbit and bithumb
held jasmy since 2021 and now i get a month to find an exit with half the korean volume gone. worst timeline lol
at least there’s a month. warned tokens usually dump into the delisting date anyway, and bithumb was most of jasmy’s real liquidity
one month is enough to rotate off korean pairs before the delisting dump. the krw premium dies long before september 14 though, thats the part that hurts
The premium decay on the smaller KRW pairs started within hours of the notice. Anyone rotating out now gets local exit prices instead of global ones. The arbitrage window closed fast.
one month notice is actually generous, binance sometimes gives a week. question is whether those warning designations ever get resolved or it’s just a formality
They almost never get resolved. The warning designation is the polite goodbye. The delisting date is the real one.
a warning designation getting resolved happens like once a year and its always some token nobody was holding anyway lol
resolving a designation would admit the criteria are negotiable, so nothing ever resolves. every flagged token rides the same conveyor to the same exit
the one resolution i remember was a token that fixed its disclosure docs in a week. storj actually has a chance at that, jasmy and tt dont
both exchanges, three tokens, same hour. the coordination is the story, no venue wants to be the last exit when liquidity leaves
sept 14 15:00 kst, both books gone the same hour. the coordination is the story, exchanges dont delist in pairs unless someone whispered
Losing both Upbit and Bithumb in the same month kills the KRW liquidity layer entirely. Global volume might survive on offshore books, but Korean holders are boxed into OTC if they wait past the deadline.
otc at a haircut or offshore kyc in four weeks, both ugly. most JASMY holders i know arent even passport ready for a foreign venue
the passport fix only works if you started months ago. doing foreign kyc now means hoping verification clears before the upbit book empties
started my offshore kyc last week after the joint statement. verification queue alone is 5 business days, the one month window is tighter than it looks
jasmy already lost binance listings before and survived because korean books kept it breathing. this time the thing keeping it alive is the thing being switched off
jasmy surviving binance delistings on kimchi volume was always a weird flex. this time the korean bid is the one leaving the building
A month is nothing for moving size off Upbit books. KRW holders are about to learn the exit doors shrink exactly when everyone wants through them at once.
a month assumes a buyer exists. once the upbit orderbook thins out, every korean exit becomes the same queue bidding against the same three market makers
storj and jasmy get the sympathy, TT gets silence. storj still has binance and coinbase depth to fall back on. thundercore lived almost entirely on korean volume, this is the whole market gone
storj being the safe one of the three is wild. binance and coinbase depth means it survives this, TT holders just learned what single market risk means
TT is the real casualty here. storj has binance depth and jasmy has retail memory. thundercore had korean volume and nothing else, no plan B exists
Sept 14 at 15:00 KST both books pull the plug the same hour. If you hold JASMY in a KRW account the OTC haircut after that is the real price