Upbit extends MultiversX (EGLD) investment caution designation to the third week of November

South Korean exchange Upbit has extended the period during which MultiversX (EGLD) is designated as an investment caution asset by almost a month. In a notice posted Oct. 23 at 3 p.m. KST, Upbit said it had asked MultiversX for an explanation and, after reviewing it, judged that further review was needed of the project’s additional response and the status of measures taken. The designation now runs until the third week of November (Nov. 16-20). The designation applies to EGLD trading pairs on Upbit’s Korean won (KRW), bitcoin (BTC) and tether (USDT) markets.

The September exploit attempt that froze the mainnet for five days

The problem began on Sept. 19. Upbit suspended EGLD deposits and withdrawals at 5:47 p.m. KST that day, and MultiversX said on its official X account the same day (UTC) that it had “confirmed that a actor attempted to exploit a VM-level atomicity issue.” Atomicity is the rule that every step of a transaction must either all go through or all be reversed. The project said the attempt “caused invalid state changes” and that network progression was paused to prevent further impact.

At the time, MultiversX said it would validate a fix on a shadow fork, a copy of the network, and was evaluating a targeted recovery that would preserve finalized transaction history and legitimate user state while addressing only incident-related invalid changes. It asked users not to use EGLD deposit and withdrawal routes through exchanges or bridges. On Sept. 24 (UTC), its developer account said “the recovery upgrade has been deployed successfully, block production has resumed,” declaring the mainnet back online. Both posts promised a full technical incident report, and the Sept. 24 post said it would explain what happened, how the recovery was carried out and the measures taken to address the issue.

Upbit designated EGLD as an investment caution asset on Sept. 21 at 4 p.m. KST, while block production was still halted. It cited Article 17, Item 1(e) of the Enforcement Decree of Korea’s Virtual Asset User Protection Act, which covers cases in which “a security incident such as a hack whose cause has not been identified or that has not been remedied” has harmed or could harm users. The first designation period ran to the fourth week of October (Oct. 19-23), and the new notice adds about four weeks.

Withdrawals are open, deposits are not

Upbit reopened EGLD withdrawals on Oct. 6 but did not resume deposits because of the caution designation. EGLD sent to Upbit after the designation is not credited to accounts and is subject to return. Upbit halted withdrawals again at 8 p.m. KST on Oct. 21 for a MultiversX network upgrade and reopened them at 11:19 a.m. on Oct. 22. Version 2.1.9 of the MultiversX node software was published on GitHub on Oct. 21 (UTC).

Overseas exchange Kraken began flagging EGLD deposit and withdrawal delays on Sept. 16, and on Sept. 19 (UTC) moved its EGLD markets to cancel-only mode. Kraken’s status page marked the incident “Resolved” on Oct. 1.

EGLD trades at 4,773 won on Upbit, 8% above Binance

At 10:32 p.m. KST on Oct. 24, EGLD traded at 4,773 won on Upbit’s Korean won market, down about 7% from the previous day, with about 2.07 billion won in 24-hour trading value. Bithumb quoted 5,325 won at the same time. On Binance, EGLD traded at $3.331 (USDT), down 7.4% over 24 hours, or about 4,413 won at roughly 1,325 won to the dollar. On that basis, the kimchi premium (the gap between prices on Korean exchanges and global markets) was about 8.2% on Upbit and about 20.7% on Bithumb. Upbit’s won market carries a caution flag for a trading volume surge, and its tether market carries one for a gap with overseas prices.

Based on Binance’s daily closing prices, EGLD stood at $4.134 on Sept. 18, the day before the incident, and $3.873 on the day of the incident, then rose to $4.368 on Sept. 21 while the mainnet was halted. It later declined and closed at $3.477 on Oct. 23, the day the extension was announced. EGLD’s 52-week high on Upbit’s won market is 18,760 won, set on Nov. 28, 2025.