- South Korea’s Upbit and Bithumb have officially announced the delisting of MANTRA on Dec. 14.
- Due to unresolved security and operational concerns, which led to paused transfers and an extended review.
- This could affect price discovery, liquidity fragmentation, and the ability of holders to exit positions.
South Korea’s largest cryptocurrency exchanges, Upbit and Bithumb, have officially announced plans to terminate trading support for MANTRA (MANTRA) on December 14, 2026.
The exchanges have cited unresolved security and operations issues as the major reasons for the caution designation. After extending the review period in October to give the project time to address the issues, the exchanges concluded that these concerns had not been satisfactorily resolved.
Upbit and Bithumb to Delist MANTRA
South Korea’s largest cryptocurrency exchanges have moved to end trading support for MANTRA. On November 13, 2026, Upbit announced that it would terminate trading support for MANTRA on December 14 at 15:00 KST across the MANTRA/KRW, MANTRA/BTC and MANTRA/USDT trading pairs. The exchange will cancel open orders, but withdrawals will remain available until around January 13, 2027.
On the same day, Bithumb also announced that it will end trading support for MANTRA on December 14, with withdrawals continuing until mid-January 2027. Meanwhile, in August 2026, the third-largest Korean trading venue Coinone had already placed MANTRA on its delisting watchlist under the Virtual Asset User Protection Act, alongside Upbit and Bithumb.
The exchanges cited issues with the project’s wallet, issuer, or operator and distributed ledger infrastructure, initially flagged in August under investment-warning reviews. Together, Upbit and Bithumb account for a large share of Korean won-based trading, so their exit presents a big threat to MANTRA’s market access and liquidity.
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How Could MANTRA’s Delisting Affect Liquidity, Price Discovery and Holders’ Exit Options?
Such major withdrawals are likely to reduce total liquidity and fragment the remaining order books. Historically, the Korean KRW pairs have provided significant volumes and local price formation for MANTRA.
Once trading ends on Upbit and Bithumb, that volume will shift to remaining global exchanges, primarily USDT pairs on platforms such as Binance, or decentralized venues. Thinner books tend to have greater spreads and more slippage, particularly in times of stress.
Price discovery is likely to become less efficient. As deep and regulated venues participate less, markets may exhibit increased volatility and temporary price dislocations between residual KRW market activity (if any Korean platforms remain) and international USDT pricing. Historical experience of related multi-exchange delistings indicates that the loss of a concentrated regional liquidity pool often increases short-term dislocations.
For MANTRA traders, exit options will become narrow in phases. Until December 14, they can still sell on affected exchanges, although selling pressure may already be rising. Once trading is closed, there will be limited withdrawal timeframes for transferring to personal wallets or other exchanges. After January 2027, holders could face greater friction and fewer opportunities to exit their positions due to less liquid markets.
What’s Next for MANTRA’s Price?
At the time of reporting, MANTRA was trading at $0.002674, down 7.6% in the last 24 hours following the announcements, with a market capitalization of $18.16M, down 7.39%. The token has already declined nearly 90% from its March 2026 peak.
That said, MANTRA’s short-term price action could stay under pressure as Korean investors seek to exit before December 14. Further downside will depend on selling pressure, declining liquidity, and global trading activity. Without resolving the security concerns, MANTRA’s price recovery could remain constrained.
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Related: MANTRA Chain Halt Freezes Transactions, Traders Face Liquidity Risk
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