- Flow Foundation asks a South Korea court to stop the planned FLOW token delisting by Upbit Bithumb and Coinone exchanges.
- A December exploit created $3.9 million in duplicate FLOW tokens but developers destroyed all fake tokens and fixed the flaw.
- FLOW token trades near $0.043 and remains listed on major global exchanges despite the South Korea delisting dispute.
The Flow Foundation and its parent company Dapper Labs filed a motion with the Seoul Central District Court on Monday. The request seeks to block the planned delisting of the FLOW token from three major South Korean exchanges. Upbit, Bithumb, and Coinone earlier announced that they would end FLOW trading support on March 16. The decision followed a security incident that affected the Flow blockchain network in December. The court will review the application and determine the next legal steps.
Security Incident Triggered Exchange Concerns
The legal dispute stems from a vulnerability discovered on the Flow blockchain late last year. An attacker exploited a flaw that allowed certain assets to duplicate instead of mint normally. As a result, the attacker bypassed supply controls built into the network. However, the exploit did not drain or access user balances.
The incident created approximately $3.9 million in duplicated tokens. Flow developers quickly identified the issue and moved to contain the situation. The network later destroyed all counterfeit tokens permanently. Nevertheless, the duplicate tokens raised concerns among exchanges about supply integrity.
Korean Exchanges Prepare to End Trading Support
Soon after the exploit, several exchanges began reviewing the token’s listing status. The duplicate tokens created uncertainty around the reliability of the token supply. Consequently, trading platforms paused services while they assessed the incident. Upbit, Bithumb, and Coinone later confirmed their decision to remove the token from trading. The exchanges scheduled the delisting for March 16.
This decision placed significant pressure on FLOW trading access in South Korea. However, the Flow Foundation moved to challenge the action through the court system. The Seoul Central District Court will review the request starting March 9.
FLOW Remains Listed on Major Global Exchanges
Despite the situation in South Korea, the FLOW token remains available on several global trading platforms. Major exchanges supporting the asset include Coinbase, Kraken, OKX, Gate.io, HTX, Binance, and Bybit. In addition, Korbit continues to support FLOW trading within South Korea. Global exchanges independently reviewed the network following remediation efforts.
As a result, these platforms restored full trading services for the token. Meanwhile, Dapper Labs continues to support the broader Flow ecosystem. The company introduced Flow in 2019 as a layer-1 blockchain focused on Web3 games and digital collectibles. Several major brands continue building projects on the network. These include Disney, the NBA, the NFL, and Ticketmaster.
FLOW Price and Ecosystem Metrics Show Sharp Decline
The FLOW token recorded only a modest recovery after news of the legal challenge emerged. However, the asset remains far below earlier market levels. FLOW has dropped about 75% since the December security incident. The token currently trades near $0.043. The long-term decline appears more severe when compared with earlier market cycles.
FLOW reached its all-time high near $42 during the 2021 crypto market surge. Current prices reflect a decline of about 99.9% from that peak. The network activity has also weakened across the ecosystem. Data from DeFiLlama shows total value locked on Flow has dropped significantly. The network’s TVL has fallen about 82% from its November 2025 peak.
