Upbit and Bithumb warn investors of unresolved security incidents involving The Sandbox token, triggering cautionary trading measures.
South Korea’s two largest cryptocurrency exchanges, Upbit and Bithumb, designated The Sandbox (SAND) as an investment caution asset on August 24. The move follows unresolved security incidents, including potential wallet or distributed ledger hacks, according to official statements.
Bithumb will review the designation between September 28 and October 2 to decide whether to lift, extend, or terminate support for SAND trading. The Sandbox, a blockchain-based gaming platform, allows users to trade digital assets and virtual land.
No immediate market reaction was disclosed, but the caution label may limit trading activity for the token on the affected exchanges.