Delisted cryptocurrencies on South Korea exchanges nearly triple in 2023

The number of cryptocurrencies delisted from South Korea’s five major won-based exchanges increased nearly threefold in the first nine months of 2023 compared to the previous year. On October 16, 41 tokens were either delisted or flagged in a single day. An analysis by DAXA, a consultative body of digital asset exchanges, revealed that 103 cryptocurrencies were removed from trading support lists through the third quarter, up from 40 a year earlier. This figure excludes overlaps among exchanges and confirmed token rebrandings. Industry participants noted that South Korean exchanges need to better differentiate stronger projects from weaker ones, as indiscriminate listings have been prevalent.

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