[Upbit] Notice on Designation of Steem Dollars (SBD) as a Cautionary Item

Hello. This is Upbit, the most trusted global standard digital asset exchange.

Steem Dollars (SBD) has been designated as a cautionary item, and as a result, the deposit service will be temporarily suspended.

(Article 17, Paragraph 1, Subparagraph 1 of the Enforcement Decree of the Virtual Asset User Protection Act)

Please find below the detailed reasons for the designation of the cautionary item. Members holding this digital asset are advised to check the following details.

[Notice on Reasons for Designation of Cautionary Item]

• Target Market: SBD/KRW, SBD/BTC

• Reasons for Designation of Cautionary Item

• Upbit has identified that there are numerous shortcomings and potential risks of user harm when comprehensively considering the purpose, function, and adoption status of the virtual asset Steem Dollars (SBD) according to the best practices for virtual asset trading support. Therefore, Upbit designates Steem Dollars (SBD) as a cautionary item to protect investors.

• Designation Period of Cautionary Item: December 30, 2024 (Mon) 18:15 KST ~ January 13, 2025 (Mon) 23:59 KST

[Guidance on Steps After Designation of Cautionary Item]

• After the designation of a cautionary item, Upbit generally conducts a detailed review of the digital asset to determine whether to extend, lift, or terminate trading support.

• During the review process, the review period for the designation of the cautionary item may be extended, and if there is an extension of the review period, we will inform you through this notice.

• If the reasons for the designation of the cautionary item are not completely resolved during the review period, Upbit plans to provide guidance on the termination of trading support through a separate notice, and the exact schedule for the termination of trading support will be announced through the trading support termination notice.

• Digital assets designated as cautionary items cannot be reflected in deposits after the time of this notice, and all deposits are subject to return.

• Upbit's designation of cautionary items and termination of trading support are based on the Digital Asset Trading Support Termination Policy.

[Notice on Temporary Suspension of Deposits]

• Target Digital Asset: Steem Dollars (SBD)

• Deposit Block Time: December 30, 2024 (Mon) 18:15 KST

• Notice on Resumption of Deposits: To be announced according to the procedures after the designation of the cautionary item

[Precautions Related to Deposits]

• After the suspension of deposit support, deposits of SBD may not be reflected in the Upbit account, and in such cases, recovery may not be possible. Please be aware of this and do not deposit after the suspension of deposit support.

• During the suspension period of deposit support, the deposit return procedure for the digital asset will be temporarily suspended, and will be processed sequentially after the resumption of deposit support.

• If a deposit suspension occurs, there may be delays in deposit processing due to reasons such as network congestion, and there may be a difference between the confirmation completion time of the transaction on the blockchain network and the deposit reflection time.

• Deposits may occur on some blockchain networks before or after the deposit suspension time, but normal processing is not possible during the inspection period according to our wallet system processing situation, and processing may be delayed in reflecting on the member's account as it is processed sequentially after the inspection is completed.

• In the case of unscheduled inspections such as wallet inspections or network inspections, deposits may occur on some blockchain networks before or after the notice, but normal processing is not possible during the inspection period according to our wallet system processing situation, and processing may be delayed in reflecting on the member's account as it is processed sequentially after the inspection is completed.

• If any special circumstances arise regarding the resumption of deposit support, we will inform you through this notice.

Upbit will always do its best to ensure safe trading for our members.

Thank you.

※ Virtual assets are high-risk products that can result in the loss of all or part of your investment.

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