Nonprofit group Stream Basis and its father or mother firm Dapper Labs filed a petition within the Seoul Central District Court docket on Monday in search of an injunction to halt the top of help for native token buying and selling. $FLOW On three Korean exchanges.
Layer 1 blockchain Stream suffered a “safety incident” in December, when attackers exploited a vulnerability that allowed them to clone sure property moderately than mint them, bypassing provide controls with out accessing or draining present person balances.
The exploit resulted in $3.9 million in duplicate tokens, however “no person funds have been compromised and all counterfeit tokens have been completely destroyed.”
Some exchanges have been suspended $FLOW Token buying and selling decreased after the incident as duplicate tokens have an effect on their worth and community reliability.
This consists of main Korean exchanges Upbit, Bithumb, and Coinone, which introduced the top of their companies on February twelfth. $FLOW Buying and selling help on March sixteenth.
Nonetheless, the Stream Basis claimed that each one main international exchanges have now been “independently investigated and totally restored.” $FLOW For the reason that restoration work, the corporate has been offering “companies” and “continues to… $FLOW In each market. ”
$FLOW Accessible on main exchanges
The Seoul Central District Court docket will overview the applying on March 9 and resolve on subsequent steps.
The muse stated the token “stays totally accessible on main international exchanges” together with Coinbase, Kraken, OKX, Gate.io, HTX, Binance and Bybit, and that Korbit will proceed to help it. $FLOW Commerce in Korea.
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Dapper Labs, creator of $NFT Mission CryptoKitties introduced the event of Stream in 2019 as a brand new layer 1 blockchain designed to handle the scalability challenges confronted by Web3 video games and digital collections.
The Stream ecosystem continues to develop, the muse stated. He added that Disney, the NBA, NFL, and Ticketmaster are all actively constructing on blockchain with success.
$FLOW plummeting from all-time highs
This isn’t the case for $FLOW Nonetheless, the token.
The asset rose barely following the announcement, however has plunged 75% for the reason that incident in late December and is at the moment buying and selling at $0.043.
$FLOW Based on CoinGecko, it’s down 99.9% from its all-time excessive of $42 in 2021. DeFiLlama stories that the full quantity locked on the platform is $21 million, down 82% from its peak in November 2025.
Alternatively, in whole, $NFT Based on CoinGecko, the market capitalization has fallen 92% from a peak of about $17 billion in mid-2022 to about $1.4 billion immediately.
Stream TVL losses have accelerated for the reason that safety incident. Supply: Defilama
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