Bithumb and Upbit Flag Initia (INIT) as High-Risk After $2.7M Exploit

South Korea’s two largest cryptocurrency exchanges moved in near-lockstep on Monday, October 26, when Bithumb designated Initia’s INIT token a trading-caution asset and Upbit followed with the same action hours later, both citing a security incident whose cause has still not been identified or remedied. The twin notices rest on the same clause of Korea’s Virtual Asset User Protection Act, and together they convert a three-day-old network exploit into a formal exchange risk action — one that hands Initia a decision deadline in the fourth week of November.