Flow Foundation and its parent company Dapper Labs have filed a legal motion in the Seoul Central District Court seeking to suspend the planned delisting of the FLOW token from several South Korean cryptocurrency exchanges. The request targets decisions by Upbit, Bithumb, and Coinone to terminate trading support for the token following a security incident that affected the network in late 2025.
The exchanges previously announced that trading support for FLOW would end on March 16 after concerns emerged regarding the reliability of the token’s supply controls. The incident involved a vulnerability that allowed certain digital assets to be duplicated instead of minted through normal protocol mechanisms.
According to the foundation, the exploit produced approximately $3.9 million worth of duplicated tokens. The organization stated that no user funds were compromised and that all counterfeit tokens were later destroyed after remediation efforts were completed.
Network Recovery and Global Exchange Support
Flow Foundation argues that the Korean exchanges’ delisting decisions do not reflect the current state of the network following the security fix. The organization said major global exchanges have independently reviewed the issue and restored full trading services for the token.
FLOW remains available on several large international trading platforms, including exchanges that serve global markets outside South Korea. Korbit, another Korean exchange, has also continued to support FLOW trading domestically.
The court is expected to review the request and determine whether to temporarily suspend the delisting while the dispute proceeds. Such rulings can influence whether exchanges must maintain trading support during legal review periods.
Legal conflicts between blockchain projects and exchanges are relatively uncommon but can arise when token issuers dispute risk assessments or compliance decisions made by trading platforms.
Market Pressure on Flow Ecosystem
The legal effort comes as the Flow ecosystem faces broader market challenges following the December incident and a prolonged downturn in the NFT sector. FLOW’s market price has declined significantly since the network’s early expansion period, reflecting reduced activity across digital collectibles and Web3 gaming.
The Flow blockchain was originally developed by Dapper Labs to support large-scale applications such as NFT marketplaces and digital fan experiences. Major brands and entertainment organizations have previously launched projects using the network’s infrastructure.
However, the broader NFT market has contracted sharply since its peak in 2022, with total market capitalization falling substantially as trading volumes declined across major platforms. This wider slowdown has also affected networks that initially grew through NFT-related applications.
As the legal process unfolds in South Korea, the case may become an example of how exchanges, regulators, and blockchain foundations manage disputes over token listings in increasingly regulated crypto markets.