Cryptocurrency Exchange Gopax Delists 'Crash' Luna and Terra

[Asia Economy Reporter Lee Jung-yoon] Domestic cryptocurrency exchange Gopax announced on the 13th that it will delist the cryptocurrencies Luna and TerraKRT.

Gopax stated that trading and deposits for Luna and TerraKRT will be terminated at 3 PM on the 16th.

Gopax explained, "Due to the rapid increase in circulation volume and price volatility of the virtual assets, we have determined that the blockchain network will have difficulty operating normally in the future," adding, "In accordance with our delisting regulations, we will potentially end trading support to protect investors."

Withdrawals to convert to Korean won or transfer to other exchanges will be supported until 3 PM on July 16. If the unstable network status of TerraUSD (UST) is not restored by then, the period will be extended to maximize support for investors' withdrawals.

Recently, the value of UST, designed to be pegged to 1 dollar, fell, causing the price of its sister coin Luna to drop sharply, resulting in a major crash. TerraKRT is pegged to the Korean won.

Luna is listed on all five major domestic cryptocurrency exchanges. Due to the recent major crash, Upbit, Bithumb, Coinone, Korbit, and Gopax have all temporarily suspended deposits and withdrawals.

This content was produced with the assistance of AI translation services.