Upbit, Bithumb Put The Sandbox (SAND) on Investment Caution Over Security Concerns

South Korea’s two largest cryptocurrency exchanges, Upbit and Bithumb, designated The Sandbox (SAND) as an investment caution asset on Aug. 24, citing unresolved or unexplained security incidents involving possible breaches affecting wallets or the project’s distributed ledger, according to official announcements.

Bithumb plans to review the designation between Sept. 28 and Oct. 2 and decide whether to remove or extend the caution status or terminate trading support for SAND. 

SAND fell 2.2% following the announcements to $0.04301. The token has gained 11.1% over the past seven days and 0.3% over the past month, while remaining down 84.8% from a year earlier.

The Sandbox operates a blockchain-based virtual world and gaming platform that allows users to create, trade, and own digital assets and virtual land.

Source: Upbit