Wavve re-designated as a trading caution item on Upbit and Bithumb... due to security incident

Upbit and Bithumb re-designated WAVES as a cautionary trading item on June 10, this time citing a security incident on the distributed ledger used for the token's wallets and issuance, transmission, and storage, rather than the prior reason of instability in its linked stablecoin's peg. Bithumb said the designation criteria cover hacks whose cause is unidentified or unresolved, and Upbit posted the same notice on its official channels. Bithumb had already halted WAVES and Neutrino Token (NSBT) deposits and withdrawals on June 9 at the WAVES Foundation's request, with WAVES deposits and withdrawals suspended from 5:30 p.m. and NSBT withdrawals also frozen. The move matters because a second cautionary flag within a short period keeps WAVES under exchange scrutiny and restricts liquidity for holders. What to watch next is whether the foundation discloses the cause of the security incident and when the exchanges lift the deposit and withdrawal freeze and the cautionary designation.