South Korea’s leading cryptocurrency exchange Upbit announced today that it will end trading support for HIFI Finance (HIFI) on May 12, 2025, citing unresolved concerns about project transparency and sustainability.
Upbit will list Hifi Finance (HIFI) on May 12 following investment warning
This decision is due to many red flags identified through UPBit’s best practices for digital asset trading support after HIFI was placed in investment alert status on March 28, 2025.
According to the official notification, HiFi transactions will close at 5:00 PM on May 12, 2025. The affected trading pairs are:
All pending buy and sell orders will be automatically cancelled upon completion. Upbit also confirmed that HiFi-related services such as airdrops, wallet upgrades and hard forks will no longer be supported as of the date of announcement.
The reason behind the listing
Upbit cited several concerns that led to the decision to delist.
- Unilateral changes to issues of a critical project without proper explanation.
- Changes to total token issuance and distribution plans.
- Changes in business strategies that lack transparency or clear communication.
- General questions about the reality of the project and sustainability.
Despite providing HIFI Finance with the opportunity to address these issues, Upbit concluded that the project failed to address the concerns raised. As a result, the exchange has chosen to list the tokens in line with its end of trade support policy.
Trading support ends on May 12th, but users may withdraw their HIFI tokens until June 12th, 2025. Upbit advises users to complete withdrawals within this period to avoid complications.
After the withdrawal deadline, it may take quite a while to accidentally deposit HiFi tokens due to technical restrictions.
*This is not investment advice.
