Upbit’s security review of The Sandbox’s SAND token has ended with the warning designation removed. Deposits are set to resume, though the exchange cautions that cross-market price gaps could cause sharp moves.
South Korean crypto exchange Upbit removed its investment warning for The Sandbox’s SAND token on October 2, ending a review that began on August 24. The decision covers the SAND/KRW and SAND/BTC pairs. After roughly 39 days, the exchange said the grounds for the warning had been resolved and announced plans to resume deposits.
The change is not a new listing. SAND was already traded on Upbit; what has changed is the caution designation attached to it over security concerns. The token’s exchange status should also be distinguished from the games and virtual-world activities in its metaverse ecosystem. Our The Sandbox review likewise separates access to Studio from the different rights associated with SAND and LAND ownership.
What changed in the security review?
In its October 2 notice, Upbit said it had received and reviewed documents from the Sandbox team on the circumstances of the security incident and the subsequent response. It concluded that the reasons for the warning had been addressed. That is the exchange’s own assessment, rather than an independent audit report or a guarantee that every risk has disappeared.
The original August 24 notice cited the potential for harm to users. At that stage, the review could have led to an extension of the warning, its removal, or the termination of trading support. The latest decision confirms that the process has not ended in a delisting.
“Investment warning period for SAND has been lifted.”
Deposit reopening comes with a price-gap warning
Upbit said SAND deposits would resume shortly following the removal of the warning. Transfers made during the suspension would be credited in sequence after the service reopened. The notice does not give an exact reopening time.
Lifting the warning does not mean a deposit will be credited instantly. Upbit separately describes a sequential process for transfers made during the suspension. The reopening plan in the notice and the service’s live operating status are different pieces of information.
The exchange also flags potential price differences with overseas trading venues. It says the resumption of deposits could bring sharp price moves. A favourable response to the decision therefore should not be confused with uniform pricing across exchanges.
SAND trades across a wide daily range
CoinGecko’s market page showed SAND at approximately $0.0771 at 07:42 UTC on October 3. The displayed 24-hour range was $0.05711–$0.08397. The token was below the upper end of that range at the time of the check; the figures are a dated snapshot, rather than a live quote.
The exchange decision and the market move occurred in the same period, but the available evidence does not establish that the notice alone caused the rally. The venue and measurement time can make a substantial difference when tracking SAND’s price during a volatile session.
Upbit’s official announcement removing the SAND warning
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