Flow (FLOW) has taken legal action in South Korea after some of the major crypto exchanges announced its plans to halt the trading of the token.
The move follows a decision by three of the country’s largest exchanges to end support for FLOW trading. The foundation behind the project is now seeking a court intervention to prevent the delisting.
The token’s Foundation and its partner, Dapper Labs, have filed a case with the Seoul Central District Court requesting a suspension of the planned trading termination by the exchanges. With the filing in place, the halt of Flow’s token would be delayed until a full review of the whole situation is completed.
The legal challenge targets South Korea’s top three crypto exchanges: Upbit, Bithumb, and Coinone. The platforms previously announced that they would stop the trading support for the token on March 16. The decision came after some concerns were raised regarding a security issue that involved the network in December.
The token’s foundation, however, argues that the issue has already been resolved and that there was no loss of user funds during the incident. According to the organization, the counterfeit tokens created during the tokens’ breach were permanently destroyed, and stronger security measures were put into place.
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While the dispute continues in South Korea, other global exchanges have restored full services for the token after they conducted their independent reviews.
Binance confirmed that deposits and withdrawals for the token have returned to normal and removed the monitoring tag that was previously applied to the asset. Other platforms, including HTX, Coinbase, and Kraken, have also resumed normal operations for the token.
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