Upbit places EGLD under trading caution after MultiversX mainnet exploit

Upbit announced a formal trading review for EGLD on September 21 after MultiversX confirmed an attempted exploit of a virtual‑machine‑level atomicity issue on its mainnet. The exchange designated EGLD/KRW, EGLD/BTC and EGLD/USDT as markets under trading caution.

Exchange actions

Upbit suspended EGLD deposits and withdrawals at 5:47 p.m. KST on September 19. Withdrawals are slated to resume before deposits once the review period ends. The review runs through the fourth week of October, with an expected decision window of October 19‑23. Upbit may extend the review or terminate EGLD trading support if the security concerns remain unresolved.

MultiversX network response

MultiversX reported an attempted exploit that produced invalid state changes, prompting developers to halt network progression. A software fix is being prepared and will be tested via a shadow fork before deployment. The project is coordinating the fix with validators, exchanges and infrastructure providers.

Other exchange restrictions

• Bithumb suspended EGLD deposits and withdrawals on September 19 and kept them halted pending network stability.
• Kraken placed EGLD trading pairs in cancel‑only mode, blocking new orders while keeping deposits and withdrawals paused.
• Coinbase reported delayed EGLD sends and receives but said buying, selling and fiat services were unaffected.

Market impact

EGLD price fell from $4.14 on September 18 to $3.78 on September 20, an approximate 8.7% decline. Trading volume rose sharply, reaching about $10.18 million on September 20 versus $3.35 million on September 18.

Future outlook

MultiversX plans a targeted recovery to preserve legitimate transaction history while correcting invalid states. A full technical incident report will be published after the response is finalized. Until then, exchanges continue to enforce transfer restrictions.