Upbit has placed Sophon (SOPH) under a trading warning and suspended deposits, while Binance plans to remove seven USDC spot trading pairs on September 25.
Upbit added SOPH to its trading-caution list at 3:00 p.m. Korea Standard Time on September 22. The warning applies to the SOPH/KRW, SOPH/BTC, and SOPH/USDT markets. The exchange said it found problems related to disclosures, changes to the token’s circulation plan, and the process used to make those changes.
Upbit said its review found several issues that could potentially harm users. SOPH deposits were suspended when the warning was announced, although trading in the existing spot markets continues during the review.
The review is expected to continue until the second week of October, between October 12 and 16. After the review, Upbit could remove the warning, extend the review, or end trading support for SOPH if the concerns are not resolved.
The exchange also said deposits sent after the suspension began will not be credited normally and may need to be returned once deposit services resume.
Meanwhile, Binance is taking a separate action involving seven USDC trading pairs. The exchange will stop trading AIXBT/USDC, DOLO/USDC, ENJ/USDC, HUMA/USDC, SXT/USDC, TNSR/USDC, and TURTLE/USDC at 03:00 UTC on September 25.
Binance said the decision was based on factors including low liquidity and trading volume. However, this does not mean the seven tokens are being completely removed from Binance. Users can still trade the tokens through other supported trading pairs after the USDC markets close.
Binance will also stop Spot Trading Bot services connected to these seven pairs at the same time.
Four of the affected pairs — AIXBT/USDC, SXT/USDC, TNSR/USDC, and TURTLE/USDC — had already lost margin trading support earlier this month.
For SOPH, the main focus now is Upbit’s review. The token will remain under trading caution while the exchange examines the disclosure and circulation-plan issues. For Binance, the September 25 action is limited to the seven USDC trading pairs rather than a full delisting of the underlying tokens.
