Nonprofit group Circulation Basis and its father or mother firm Dapper Labs on Monday filed with the Seoul Central District Courtroom to droop the termination of buying and selling assist for its native token $FLOW on three South Korean exchanges.
Layer-1 blockchain Circulation suffered a “safety incident” in December when an attacker exploited a vulnerability that allowed sure belongings to be duplicated relatively than minted, bypassing provide controls with out accessing or draining current consumer balances.
The exploit resulted in $3.9 million in duplicated tokens, however “no consumer funds had been compromised, and all counterfeit tokens had been completely destroyed.”
A number of exchanges halted $FLOW token buying and selling following the incident as a result of impression of duplicate tokens on their worth and the trustworthiness of the community.
Amongst these had been main Korean exchanges Upbit, Bithumb, and Coinone, which introduced on Feb. 12 that they’d finish $FLOW buying and selling assist on March 16.
Nevertheless, Circulation Basis claimed that each main world alternate has now “independently reviewed and restored full $FLOW companies” for the reason that remediation efforts, and stated it “stays dedicated to making sure open entry to $FLOW in each market.”
$FLOW is out there on main exchanges
The Seoul Central District Courtroom will overview the appliance on March 9 and decide the following steps.
The Basis acknowledged that the token “stays absolutely obtainable on main world exchanges,” together with Coinbase, Kraken, OKX, Gate.io, HTX, Binance, and Bybit, with Korbit persevering with to assist $FLOW buying and selling in Korea.
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Dapper Labs, the creators of the $NFT venture CryptoKitties, introduced the event of Circulation in 2019 as a brand new layer-1 blockchain designed to handle scalability challenges dealing with Web3 video games and digital collectibles.
The Circulation ecosystem continues to develop, stated the Basis. Disney, NBA, NFL, and Ticketmaster are all seeing success as they proceed actively constructing on the blockchain, it added.
$FLOW collapses from all-time excessive
It’s not the case for the $FLOW token, nevertheless.
The asset has gained marginally following the announcement, however has tanked 75% for the reason that incident in late December, and is at present buying and selling at $0.043.
$FLOW is down 99.9% from its 2021 all-time excessive when it reached $42, in line with CoinGecko. Whole worth locked on the platform is down 82% to $21 million since its November 2025 peak, reviews DeFiLlama.
In the meantime, whole $NFT market capitalization has declined 92% from its peak of round $17 billion in mid-2022 to roughly $1.4 billion at the moment, in line with CoinGecko.
Circulation TVL losses have accelerated for the reason that safety incident. Supply: DeFiLlama
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