Nonprofit group Circulate Basis and its mum or dad firm Dapper Labs on Monday filed with the Seoul Central District Court docket to droop the termination of buying and selling help for its native token FLOW on three South Korean exchanges.
Layer-1 blockchain Circulate suffered a “safety incident” in December when an attacker exploited a vulnerability that allowed sure property to be duplicated moderately than minted, bypassing provide controls with out accessing or draining present consumer balances.
The exploit resulted in $3.9 million in duplicated tokens, however “no consumer funds had been compromised, and all counterfeit tokens had been completely destroyed.”
A number of exchanges halted FLOW token buying and selling following the incident because of the affect of duplicate tokens on their worth and the trustworthiness of the community.
Amongst these had been main Korean exchanges Upbit, Bithumb, and Coinone, which introduced on Feb. 12 that they’d finish FLOW buying and selling help on March 16.
Nevertheless, Circulate Basis claimed that each main world trade has now “independently reviewed and restored full FLOW providers” for the reason that remediation efforts, and mentioned it “stays dedicated to making sure open entry to FLOW in each market.”
FLOW is offered on main exchanges
The Seoul Central District Court docket will assessment the appliance on March 9 and decide the following steps.
The Basis said that the token “stays totally out there on main world exchanges,” together with Coinbase, Kraken, OKX, Gate.io, HTX, Binance, and Bybit, with Korbit persevering with to help FLOW buying and selling in Korea.
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Dapper Labs, the creators of the NFT undertaking CryptoKitties, introduced the event of Circulate in 2019 as a brand new layer-1 blockchain designed to handle scalability challenges dealing with Web3 video games and digital collectibles.
The Circulate ecosystem continues to develop, mentioned 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 presently buying and selling at $0.043.
FLOW is down 99.9% from its 2021 all-time excessive when it reached $42, in keeping with CoinGecko. Whole worth locked on the platform is down 82% to $21 million since its November 2025 peak, reviews DeFiLlama.
In the meantime, complete 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 keeping with CoinGecko.
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