Critical Alert: Coinone Delists PORT3 Token on January 26 After Security Breach
BitcoinWorld
Critical Alert: Coinone Delists PORT3 Token on January 26 After Security Breach
In a decisive move to safeguard its users, the South Korean cryptocurrency exchange Coinone has announced it will terminate support for the Port3 (PORT3) token. The Coinone delist PORT3 action is scheduled for January 26, 2025, at 6:00 a.m. UTC. This announcement follows a serious security incident and underscores the critical importance of robust project security in the digital asset space. For investors and traders, understanding the reasons behind this delisting is crucial for navigating the market safely.
Why is Coinone Delisting PORT3?
The primary catalyst for this decision was a significant security breach. On November 23, 2025, an incident occurred that led to the unauthorized creation and issuance of additional PORT3 tokens. Consequently, Coinone designated PORT3 as an “investment warning item,” a flag that alerts users to potential risks associated with the asset. The exchange then engaged with the Port3 project team, requesting detailed explanations and remediation plans.
However, after reviewing the submitted materials, Coinone could not verify that the fundamental issues stemming from the security lapse had been adequately resolved. Therefore, to prevent further potential harm to its user base, the exchange concluded that terminating trading support was the necessary course of action. This proactive step highlights the exchange’s commitment to user protection above all else.
What Does a PORT3 Delisting Mean for Holders?
If you currently hold PORT3 tokens on Coinone, immediate action is required. Once the delisting takes effect, you will no longer be able to trade the token on that platform. Here is a clear breakdown of the steps you should take:
- Withdraw Your Tokens: Before the deadline, you must withdraw your PORT3 tokens to a private, self-custody wallet that supports the token.
- Explore Other Exchanges: Research if other, non-Korean exchanges still list PORT3 for trading. However, exercise extreme caution due to the project’s security history.
- Understand the Risks: The security incident and subsequent Coinone delist PORT3 decision will likely impact the token’s liquidity and market perception negatively.
Failing to move your tokens by the cutoff time may result in them being stuck in your Coinone account with no trading functionality, potentially leading to a total loss if the project fails.
The Bigger Picture: Security and Exchange Accountability
This event is not just about a single token; it serves as a stark reminder of the inherent risks in cryptocurrency investing. Exchanges like Coinone act as gatekeepers, and their due diligence processes are vital for ecosystem health. When a major platform like Coinone delists an asset, it sends a powerful signal to the entire market about the project’s credibility.
For the broader crypto community, this incident reinforces several key lessons. First, the security of a blockchain project’s smart contracts and tokenomics is non-negotiable. Second, transparency and prompt communication from project teams during a crisis are essential to maintain trust. Finally, it shows that reputable exchanges are increasingly willing to make tough calls to shield their customers from problematic assets.
Final Summary and Key Takeaways
The Coinone delist PORT3 action is a protective measure driven by unresolved security concerns. It highlights the critical role exchanges play in market oversight and the severe consequences of smart contract vulnerabilities. For investors, the imperative is always to prioritize security, conduct thorough research, and use reputable platforms that demonstrate a commitment to user safety. This event is a cautionary tale that responsibility in crypto is a shared duty between projects, exchanges, and informed users.
Frequently Asked Questions (FAQs)
Q: What is the exact date and time of the PORT3 delisting on Coinone?
A: The delisting will occur on January 26, 2025, at 6:00 a.m. UTC. All trading for the PORT3/KRW pair will be terminated at that time.
Q: Can I still withdraw my PORT3 tokens from Coinone after January 26?
A: Typically, exchanges provide a withdrawal-only grace period after delisting. You must check Coinone’s official announcement for the specific deadline to withdraw your tokens, but acting before the trading halt is strongly advised.
Q: Why did Coinone decide to delist PORT3?
A: The decision followed a security incident in November 2025 that involved unauthorized token issuance. Despite requesting information, Coinone was not satisfied that the Port3 team had resolved the underlying issues, prompting the delisting to protect users.
Q: Will the PORT3 token still be traded on other exchanges?
A: It may be listed on other, often less regulated, exchanges. However, the security concerns and loss of a major platform like Coinone significantly increase the investment risk.
Q: What should I do if I hold PORT3 on Coinone?
A: You should immediately withdraw your tokens to a compatible private wallet before the delisting time. Then, carefully assess your options, understanding the heightened risks involved with the asset.
Found this breakdown helpful? Navigating exchange delistings and security alerts is key to smart crypto investing. Share this article with your network on Twitter or Facebook to help other traders stay informed and protected.
To learn more about the latest cryptocurrency security trends, explore our article on key developments shaping blockchain security and best practices for safeguarding your digital assets.
This post Critical Alert: Coinone Delists PORT3 Token on January 26 After Security Breach first appeared on BitcoinWorld.
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