Upbit to Delist Zilliqa (ZIL) on Nov. 16 After Unresolved Hack

South Korea's largest crypto exchange Upbit announced on Friday, Oct. 16, that it will delist Zilliqa (ZIL) on November 16, 2026, at 3:00 AM ET (15:00 KST). The exchange will close both its ZIL/KRW and ZIL/BTC trading pairs. The token fell 11.9% on the day and 33.8% over the past week, pushing its market cap below $46 million.

Details

Upbit flagged ZIL as an "investment caution" asset on July 22, 2026, citing evidence of an unresolved or unexplained security incident — a hack or vulnerability — in Zilliqa's blockchain or wallet infrastructure. The caution period was extended twice while the exchange conducted additional reviews. Upbit ultimately determined that the underlying security concerns had not been addressed, prompting the delisting decision, according to the official notice.

Trading in ZIL/KRW and ZIL/BTC will end on November 16 at 15:00 KST; all open orders will be automatically cancelled at that point. Withdrawals will remain available for 30 days after the trading halt — until December 16, 2026. After that deadline, incoming ZIL deposits will not be credited, and reversing erroneous transfers could take an extended period, the exchange warned. Bithumb and Korbit were still trading ZIL at the time of publication.

What It Means for the Market

Upbit's exit is a significant blow to ZIL liquidity, as the exchange handles the bulk of Korean trading volume for the token. The move reflects a broader trend of tighter listing standards across South Korean venues operating under DAXA's regulatory framework. ZIL holders on Upbit should note the December 16 withdrawal deadline; after that date, technical support for the token's transactions will be discontinued. For the broader crypto market context, see coinlab.info.