South Korean crypto exchange Upbit has announced the suspension of deposits for Kernel DAO (KERNEL) as the project remains tied to an unresolved security incident. The measure took effect at 17:00 on April 20 and applies to the KERNEL/KRW, KERNEL/BTC, and KERNEL/USDT trading pairs.
Investment Warning Status Added
Alongside the deposit halt, Upbit has classified Kernel DAO as an investment warning project. The designation signals elevated risk for users and indicates that the exchange is treating the unresolved security issue as a matter requiring closer scrutiny.
Upbit has not said that trading support will end immediately, but it has set a formal review period. The exchange said it will assess the situation through May 20, after which it will decide whether to extend the warning designation or terminate trading support altogether.
Focus Turns to the Review Deadline
For KERNEL holders and traders, the key issue now is whether the security problem can be addressed within the review window and whether the project team can provide sufficient clarification or remediation. An investment warning label from a major exchange can weigh on both liquidity and market sentiment.
Upbit’s move highlights a more cautious approach to exchange risk management when project security concerns remain unresolved. The market is now likely to watch the May 20 review outcome closely to determine whether Kernel DAO can maintain its listing support on the platform.