Upbit Flags Initia’s INIT Token for Trading Caution After Security Incident

Upbit placed Initia (INIT) under trading caution Monday, Oct. 26, citing a security incident it said could harm users. INIT deposits and withdrawals were already suspended. Upbit’s notice described a hacking or other security incident whose cause was unknown or that had not been remedied. It covered wallets managed by a virtual-asset issuer or operator, as well as distributed ledgers used to issue, transfer or store virtual assets. Upbit said it acted to protect investors because the incident could harm users. INIT deposits and withdrawals are suspended.