South Korean stock exchanges and pyithomd were suspended deposits for Synthetix (SNX) symbols after they were marked by the Daxa Exchange Alliance (DAXA) for potential risks.
DAXA, Self -Regulation Organization set industry standards for South Korean exchanges, specific SNX as a warning element.
Assets that receive this classification are usually subject to strict assessments to determine whether trading can continue or whether the deletion is necessary.
Exchanges may take measures, such as adding a warning mark and urging investors to be careful when engaging with them. Trading platforms can also make additional measures, such as prohibiting deposits or temporarily suspended trading support.
SNX Blocks Upbit and Bithumb
In response to the name, South Korea said that it prevents the deposits of SNX symbols on its platforms.
Upbit Declare It has added a trading warning and suspended symbolic deposits. The Stock Exchange said it was monitoring the developments related to the discrimination of Synthetix USD (SusD). He added that this event may harm investors through potential fluctuations, as SNX is used as a guarantee for SUS.
The Stock Exchange added that it has identified the lack of cases of use, which may cause investors to suffer from losses. Opebit said it would conduct a comprehensive review of a report if the original or the normal processes of the distinctive symbol will be resumed.
Bethome also Prohibited SNX deposits and a warning mark added a distinctive symbol. However, the stock exchange said this decision can be transferred depending on the internal conditions. If the cause of the appointment is resolved, Bethomb said he would do restrictions.
Korbit and Coinone also published investor alerts of merchants’ caution. The two pants added warning signs to SNX symbols to alert investors who may want to trade the distinctive symbol.
Cointelegraph has arrived at Synthetix for comment but he did not get a response through publishing.
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SUSD is struggling to restore connecting the dollar
On April 10, Susd Stablecoin fell to its lowest level for five years at $ 0.83 after struggling to keep the PEG dollar in the first quarter of 2025. With Stablecoin in guaranteeing the original assets of the project, more management “SusD”. system.
On April 18, Stablecoin fell to $ 0.68, with SNX decreased by 26 % in a 30 -day period. A spokesman for Synthetix Cointelegraph told their team that has short, medium and long -term plans to relieve risk.
On April 21, the founder of Synthetix Kain Warwick Snx Stakers threatened “The Stick” if they did not take the newly launched Staking mechanism to repair SusD Depeg. The CEO said they might put additional pressure on Stakers if they did not see enough momentum on the newly executed mechanism.
Since the warning, SUD prices have increased by 27 %. On April 24, Stablecoin reached a short period of $ 0.87. However, the distinctive symbol still fails to restore the connection of the dollar.
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