Upbit, a leading cryptocurrency exchange based in Korea, has issued a cautionary advisory concerning the FLOW token amid reports of a potential security breach affecting the Flow network, a layer 1 blockchain developed by Dapper Labs. Following this alert, the Flow Foundation is actively investigating the situation, working alongside engineering teams and network partners to resolve the potential security incident. In an official update, the Flow Foundation confirmed that their dedicated teams are engaged in assessing the issue thoroughly and emphasized their commitment to providing verified updates as more information becomes available.
Upbit has stated that it is closely monitoring the evolving situation and may implement protective strategies based on its findings, which could include issuing alerts to users, placing trading restrictions on the FLOW token, or, if necessary, halting support for the token. Users currently holding FLOW are advised to exercise caution amid these developments.
Elsewhere, the cautionary advisory coincided with a notable decline in FLOW’s price, slipping from over $0.17 to about $0.10, its lowest level since launch. The token had previously reached a high near $42, underscoring the volatility surrounding the situation.
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