Nonprofit group Movement Basis and its mother or father firm Dapper Labs on Monday filed with the Seoul Central District Courtroom to droop the termination of buying and selling assist for its native token $FLOW on three South Korean exchanges.
Layer-1 blockchain Movement suffered a “safety incident” in December when an attacker exploited a vulnerability that allowed sure property to be duplicated slightly than minted, bypassing provide controls with out accessing or draining current consumer balances.
The exploit resulted in $3.9 million in duplicated tokens, however “no consumer funds have been compromised, and all counterfeit tokens have been completely destroyed.”
A number of exchanges halted $FLOW token buying and selling following the incident as a result of affect of duplicate tokens on their worth and the trustworthiness of the community.
Amongst these have been main Korean exchanges Upbit, Bithumb, and Coinone, which introduced on Feb. 12 that they’d finish $FLOW buying and selling assist on March 16.
Nonetheless, Movement Basis claimed that each main world trade has now “independently reviewed and restored full $FLOW providers” for the reason that remediation efforts, and stated it “stays dedicated to making sure open entry to $FLOW in each market.”
$FLOW is on the market on main exchanges
The Seoul Central District Courtroom will evaluate the applying on March 9 and decide the following steps.
The Basis acknowledged that the token “stays totally obtainable on main world exchanges,” together with Coinbase, Kraken, OKX, Gate.io, HTX, Binance, and Bybit, with Korbit persevering with to assist $FLOW buying and selling in Korea.
Associated: Magic Eden winds down EVM, Bitcoin $NFT markets to give attention to playing
Dapper Labs, the creators of the $NFT undertaking CryptoKitties, introduced the event of Movement in 2019 as a brand new layer-1 blockchain designed to deal with scalability challenges going through Web3 video games and digital collectibles.
The Movement ecosystem continues to develop, stated the Basis. Disney, NBA, NFL, and Ticketmaster are all seeing success as they proceed actively constructing on the blockchain, it added.
$FLOW collapses from all-time excessive
It’s not the case for the $FLOW token, nonetheless.
The asset has gained marginally following the announcement, however has tanked 75% for the reason that incident in late December, and is at the moment buying and selling at $0.043.
$FLOW is down 99.9% from its 2021 all-time excessive when it reached $42, in response to CoinGecko. Complete worth locked on the platform is down 82% to $21 million since its November 2025 peak, experiences DeFiLlama.
In the meantime, whole $NFT market capitalization has declined 92% from its peak of round $17 billion in mid-2022 to roughly $1.4 billion right this moment, in response to CoinGecko.
Movement TVL losses have accelerated for the reason that safety incident. Supply: DeFiLlama
Journal: Bitcoin to outperform gold quickly, FBI busts $46M crypto heist: Hodler’s Digest
