[CRITICAL] Formal Complaint Filed with Upbit Exchange: Investigation into SafeDAO’s Negligence & Communication Shutdown

Safe Ecosystem General Discussion
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TL;DR Due to the Foundation’s unilateral closure of Discord and persistent silence on this forum, I have officially filed a complaint with Upbit (South Korea’s largest exchange). Upbit has responded that they will “seriously review” the current status of the SAFE project regarding investor protection. This may lead to an “Investment Warning” designation and potential delisting.

1. Why I took this action

I did not want to do this, but the Foundation left me no choice. Despite the project claiming to be a “Community Governance Token,” the leadership has:

  1. Unilaterally shut down the Discord community, cutting off the only real-time communication channel.

  2. Consistently ignored user inquiries on this forum (forum.safe.global).

This is not just poor management; it is a betrayal of the token holders. To prevent further victims from investing in a project that ignores its community, I have reported these issues to the Upbit Customer Protection Center.

2. The Broken Promise (GIP-29)

Do you remember how this project started? In [GIP-29: Spin-off SafeDAO and launch SAFE token], you explicitly promised a decentralized future to justify the token launch.

You promised a DAO that empowers its ecosystem. You promised shared rewards. Look at where we are now. You have abandoned the “Governance” aspect entirely. Even after the Bybit hacking incident forced you to pivot completely to open-source, you have neglected the token that is supposed to secure that very ecosystem.

3. Consequences: Upbit’s Review Process

For your information, Korean exchanges like Upbit follow a strict procedure for projects that fail to protect investors or communicate transparently:

  1. Report & Review: (Current Stage - “Seriously Reviewing”)

  2. Designation as “Investment Warning”: Public warning to all investors.

  3. Delisting (Termination of Support): Removal from the exchange.

Upbit takes “lack of communication” and “governance negligence” very seriously. If you continue to ignore this forum and hide behind silence, you are actively pushing SAFE towards delisting in the Korean market.

4. Final Statement

I have done my best as a holder to protect the community. The ball is now in your court. Will you honor the original spirit of GIP-29 and restore communication/value, or will you face the consequences of regulatory exclusion?

We are watching. Upbit is watching.