A certain exchange in South Korea issues a red card to GRS: suspends coin deposits and initiates compliance review.

[Chain News] A leading exchange in South Korea has recently taken action against Groestlcoin(GRS). Starting from December 2, this platform has directly labeled GRS with “Trading Alert” and has suspended the deposit function—this involves the GRS/KRW and GRS/BTC trading pairs.

The official reason is quite straightforward: according to the joint review mechanism of DAXA(, the Korea Digital Asset Exchange Alliance), GRS did not meet the standards in the dimensions of project information disclosure, actual business operation, and sustainability. In other words, the platform is concerned that continuing to trade may cause users to suffer losses.

The warning period starts from 11 AM on December 2nd and lasts until almost midnight on the 16th, all in Korean time (. During this time, if anyone deposits GRS into their account, the system will not credit it and will return it according to the process. As for how to handle it afterwards—whether to extend the observation period, lift the warning, or directly delist it—we will have to wait for the review results to know. An announcement will be made at that time.

This kind of operation is actually not uncommon in cryptocurrency exchanges, mainly due to compliance pressure and risk control considerations.