Flow Foundation and Dapper Labs have asked the Seoul Central District Court to stop the planned FLOW delisting on three major Korean exchanges.
The filing came after Upbit, Bithumb, and Coinone said they would end trading support for FLOW token on March 16.
The court was set to review the request on March 9. The case now puts the future of FLOW token in South Korea under legal review after months of pressure following the network’s December security incident.
At the center of the dispute is whether the incident still justifies the removal of FLOW from the three exchanges.
Meanwhile, Flow Foundation says major global platforms have already restored full services after checking the issue and the response.
FLOW Delisting Case Puts Korean Exchanges Under Focus
The dispute began after Upbit, Bithumb, and Coinone announced on Feb. 12 that they would end trading support for FLOW token. Those decisions followed the Flow security incident that hit the network in December.
According to the reported details, an attacker exploited a vulnerability that allowed some assets to be duplicated instead of minted correctly. As a result, the exploit bypassed supply controls.
However, it did not access user wallets or drain existing balances.
The incident led to about $3.9 million in duplicated tokens. Flow Foundation said “no user funds were compromised, and all counterfeit tokens were permanently destroyed.”
Even so, the event raised questions about token value and network trust, which later fed into the FLOW delisting decisions.
FLOW Token Still Trades on Global Platforms
While the three Korean exchanges moved toward delisting, Flow Foundation said the broader exchange picture looks different.
It said every major global exchange had “independently reviewed and restored full FLOW services” after remediation efforts.
The Foundation also said it “remains committed to ensuring open access to FLOW in every market.”
That statement came as it tried to show that FLOW token still trades normally outside South Korea despite the local dispute.
According to the Foundation, FLOW remains available on Coinbase, Kraken, OKX, Gate.io, HTX, Binance, and Bybit. In South Korea, Korbit continues to support the asset.
Therefore, the legal filing appears aimed at stopping a wider loss of market access in one of the most active crypto markets.
FLOW Token Price Drops as Court Review Approaches
Although Flow Foundation pointed to restored services on global platforms, the market damage remains clear. The FLOW token has fallen sharply since the December incident and has shown only limited recovery.
The report said FLOW was trading near $0.043 after a small gain following the legal news. Even then, the token remained down about 75% since late December.
Moreover, it has dropped 99.9% from its 2021 all time high of $42, according to CoinGecko data cited in the report.
The network’s onchain metrics also weakened. Data from DeFiLlama showed total value locked on Flow had fallen 82% to about $21 million from its November 2025 peak.
That decline adds more pressure as the court considers whether the FLOW delisting should move forward.
Flow Foundation and Dapper Labs Face a Weak NFT Market
The legal fight also comes during a weaker period for the broader NFT sector.
Dapper Labs, known for CryptoKitties, introduced Flow in 2019 as a layer 1 blockchain built for Web3 games and digital collectibles.
Despite the token’s price decline, Flow Foundation said the ecosystem continues to grow. It named Disney, NBA, NFL, and Ticketmaster as companies still building on the blockchain.
That claim focused on ecosystem activity rather than token performance.
At the same time, the wider NFT market has lost significant value.
The report cited CoinGecko data showing total NFT market capitalization had fallen about 92% from around $17 billion in mid 2022 to roughly $1.4 billion today.
That backdrop matters because FLOW token remains closely tied to NFT and collectibles activity, even as Flow Foundation tries to block the FLOW delisting in South Korea.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: March 9, 2026 • 🕓 Last updated: March 9, 2026
