Flow files court action to block Korean exchange listings
Non-profit organization Flow Foundation and its parent company Dapper Labs filed a lawsuit on Monday with the Seoul Central District Court to end the suspension of trading support for native Flow on three South Korean exchanges.
The Layer-1 blockchain flow suffered a “security vulnerability” in December when an attacker exploited a vulnerability that allowed some assets to be duplicated instead of generated, bypassing supply controls without accessing or terminating existing user accounts.
The exploit resulted in $3.9 million in duplicate tokens, but “no user funds were compromised, and all counterfeit tokens were permanently destroyed.”
Several exchanges have suspended trading of the FLOW token following the incident as duplicate tokens have affected their value and the integrity of the network.
Among them, major Korean exchanges are Apbit, Bitumb and Coinon. On February 12th, they announced that they will end commercial support for FLOW on March 16th.
However, the Flow Foundation said that since the remediation efforts, every major global exchange has now “independently reviewed and restored full flow services,” and is “committed to ensuring open flow access in every market.”
Flow is available on major exchanges.
The Seoul Central District Court will review the application on March 9 and decide on next steps.
According to the foundation, the token is “fully available on major international exchanges” Coinbase, Kraken, OKX, Gate.io, HTX, Binance and Bybit, Korbit continues to support FLOW trading in Korea.
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Dapper Labs, the creators of the NFT project, announced the development of Flow in 2019 as a new layer-1 blockchain designed to solve the problems facing web3 games and digital collections.
The Flu ecosystem continues to grow, the foundation said. Disney, the NBA, the NFL and Ticketmaster are all seeing success as they continue to actively build on blockchain, he added.
FLOW falls to an all-time high
But that's not the case for the FLOW token.
The asset gained slightly after the announcement, but has rallied 75% since the event in late December and is currently trading at $0.043.
Flow is down 99.9% from its 2021 all-time high of $42, according to CoinGecko. Total value locked on the platform has fallen 82 percent to $21 million since its peak in November 2025, DeFillama reported.
Meanwhile, the total NFT market capitalization has fallen 92 percent from around $17 billion in mid-2022 to about $1.4 billion today, according to CoinGecko.
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