Upbit and Bithumb have placed Synthetix (SNX) on a delisting watchlist, while Coinone also designated the token for review. The South Korean exchanges said SNX showed shortcomings under virtual-asset listing standards, including procedures for changes to total issuance and circulating supply plans, the project’s business substance, sustainability and actual progress, creating a risk of user harm. Upbit said deposits for the SNX/BTC pair were suspended from 4:30 p.m. KST on August 7, equivalent to 7:30 a.m. UTC, and set a review period for August 24 to 28 that could lead to delisting if concerns are not resolved.