South Korea’s top cryptocurrency exchanges, Bithumb and Upbit, have officially announced their decision to delist the HIFI token from their trading platforms.
While Bithumb has not disclosed a specific timeline, Upbit confirmed that trading support for HIFI will be terminated on May 12, 2025, at 17:00 KST.
The action follows Upbit’s adherence to its digital asset trading support termination policy, which outlines guidelines for assessing the sustainability, transparency, and operational integrity of listed tokens.
Traders have been urged to manage their assets prudently and take note of transaction risks as the delisting takes effect.
Upbit Cites Business Transparency and Sustainability Concerns
According to Upbit’s statement, the decision to delist HIFI comes after a comprehensive review of multiple red flags surrounding the token.
HIFI was previously designated as a “trading caution” item on March 28, 2025, due to arbitrary changes in critical project aspects, such as its issuance volume, circulation plan, and business model, without sufficient justification or procedural transparency.
Despite the cautionary period, Upbit noted that these concerns remained unresolved, leading to the final decision to terminate trading.
The process underscores the exchange’s commitment to investor protection and maintaining market integrity by enforcing strict compliance with best practices.
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Key Trading Pairs and Post-Delisting Withdrawal Window
The delisting will affect HIFI trading in both HIFI/KRW and HIFI/BTC markets. Once trading is halted, all existing buy and sell orders will be automatically canceled.
Additionally, Upbit clarified that no support will be provided for services such as airdrops, wallet upgrades, or hard forks for HIFI once the delisting takes effect.
Users holding HIFI will still be able to withdraw their tokens for 30 days following the delisting deadline, until June 12, 2025.
After this withdrawal window closes, any mistakenly deposited HIFI tokens may face long delays in recovery due to technical complications, further emphasizing the need for timely action from token holders.
Market Reaction: HIFI Token Drops Nearly 10% in 24 Hours
News of the delisting has triggered an immediate negative response in the market. The price of Hifi Finance (HIFI) dropped by 9.84% within the last 24 hours, now trading at $0.1464.
Over the past week, HIFI has lost 19.05% of its value, bringing its market cap down to approximately $21.45 million, with a daily trading volume of $12.75 million.
The token’s sharp decline reflects investor unease and uncertainty surrounding its future prospects, particularly in light of the transparency and governance issues flagged by Upbit.
The delisting marks a significant setback for the project, which now faces the challenge of restoring credibility in a rapidly evolving regulatory landscape.