Upbit and Bithumb announced that they have designated Sophon (SOPH) as an investment warning item. The exchanges stated the reason for the designation, saying, "After comprehensively considering factors such as the failure to disclose important matters in a timely manner through appropriate electronic transmission channels according to best practices for virtual asset trading support, the presence and extent of disclosure of important matters, the details and extent of changes to the circulation plan, the existence of necessary procedures for changes, and the transparency and reasonableness of the change procedures, we confirmed that there are numerous deficiencies and a possibility of user damage."
