Upbit and Bithumb, South Korea’s two largest crypto exchanges, will end trading support for Storj (STORJ), JasmyCoin (JASMY) and ThunderCore (TT) at 15:00 KST on September 14, according to notices posted directly on each exchange. Withdrawals stay open a month longer, until October 14, before access closes for good.
The three tokens have almost nothing in common. Storj’s parent company is mid-bankruptcy. ThunderCore spent two weeks publicly arguing with the exchanges before dropping the fight.
Two Warning Dates, One Deadline
Upbit flagged Storj as a trading caution item on July 28. Three days later, on July 31, both Upbit and Bithumb separately designated Jasmy and ThunderCore the same way. Despite the staggered start, the review period for all three converged on the same minute seven weeks later.
That matches how Upbit and Bithumb have handled joint delistings before: once DAXA, the industry group the two exchanges use to standardize listing decisions, puts a token on notice, the two platforms tend to move together, reaching independent conclusions on their own schedules rarely enters into it.
The Timeline Behind the Delistings
- July 26: Storj Labs files for Chapter 11 protection.
- July 28: Upbit designates STORJ as a trading caution item.
- July 31: Upbit and Bithumb designate JASMY and TT as caution items.
- August 1: ThunderCore disputes the characterization behind its caution designation.
- August 14: ThunderCore publishes a follow-up acknowledging that trading support will end.
- September 14, 15:00 KST: Trading support for STORJ, JASMY and TT ends.
- October 14: Withdrawal support ends.
A Familiar Pattern for Korean Exchanges
This sequence has run before. Upbit and Bithumb removed RESOLV within about two weeks of its May warning after the project’s response failed to satisfy reviewers. Flow, Drift, Loopring, Oasys, IoTeX, Groestlcoin and BONK delisting Upbit have each gone through a version of the same warning-then-delisting track over the past year.
Wemix has been through it twice: once in December 2022 over disclosure issues, then again in May 2025 after a bridge hack the project was slow to explain, with DAXA saying at the time that the foundation’s response was insufficient to resolve its concerns. Against that history, three tokens hitting the same deadline is routine.
ThunderCore Fought the Ruling, Then Accepted It
ThunderCore pushed back immediately. In an August 1 statement, the company said it was “surprised and disappointed that certain incorrect public characterizations were made” and that its network “continues to produce blocks normally, validators are operating as expected.” Chief executive Scott Tsai said the team was working to clarify the situation with both exchanges directly.
By August 14, the tone had changed. ThunderCore’s latest update no longer disputes the outcome, calling it “regrettable” and warning of “serious, far-reaching consequences for TT holders and the ThunderCore ecosystem.” The company still says its mainnet has run without interruption since 2019, but it has stopped contesting the exchanges’ decision and moved on to managing what comes after it.
At 11:44 UTC, ThunderCore (TT) was trading at around $0.0001259, down 41.8% over the previous 24 hours. Its market cap was about $1.81 million, while 24-hour trading volume was around $2.71 million. The sharp decline came as the token faced delisting from Upbit and Bithumb.
Two Companies Say Nothing About the Delisting Itself
Jasmy has issued statement addressing either the caution designation or the delisting. Storj Labs has spoken, but only about its own bankruptcy, not about losing its two biggest Korean trading venues. The company filed for Chapter 11 protection in a West Virginia bankruptcy court on July 26, a filing unrelated to the exchange review that was already underway.
At 11:43 UTC, JasmyCoin (JASMY) was trading at around $0.004091, down 0.14% over the previous 24 hours. Its market cap was about $202.3 million, while 24-hour trading volume stood at $10.9 million, showing relatively moderate trading activity.
Kaloyan Raev, Storj’s director of software engineering, said the filing was meant to shed “legacy obligations from an earlier chapter” while the underlying business stayed “strong and right-sized.” STORJ fell 19 percent within a day of the filing, with roughly $20 million changing hands against a $27 million market capitalization, close to a full turnover of its circulating float in one session. The token is down 79 percent over the past year and 98 percent from its March 2021 high of $3.81.
At 11:40 UTC, STORJ was trading at around $0.04354, up 2.79% over the previous 24 hours. Its market cap was about $18.5 million, while 24-hour trading volume reached $21.46 million, showing that trading activity was high compared with its market size.
Storj’s bankruptcy plan includes an unusual provision giving token holders equity in the reorganized company, something token holders don’t typically have a legal claim to in a Chapter 11 case. That offer is meant to reassure the same holders who are about to lose the ability to trade STORJ on Korea’s two largest exchanges, a tension the company hasn’t addressed directly.
The exchanges’ original notices said only that the concerns raised in July remained unresolved, without laying out what those concerns were beyond broad references to Storj’s business sustainability, Jasmy’s disclosure practices and ThunderCore’s development pace. Neither Jasmy nor Storj has explained why they didn’t push back the way ThunderCore did. What’s clear is that pushing back didn’t change anything either: ThunderCore’s public dispute ended in the same delisting that Jasmy and Storj now face without having said a word about it.
Holders of all three tokens face the same calendar regardless of how their project responded. Trading closes on both exchanges at 15:00 KST on September 14. The development comes as the Upbit Samsung partnership highlights growing institutional interest in South Korea’s crypto market. Withdrawals remain open until October 14, after which moving STORJ, JASMY or TT off either platform will no longer be possible.
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