Bithumb lifts the trading-caution designation on Injective (INJ), 22 September: deposits resume at 16:00 KST — what the notice says, and what it does not

Yesterday we read the Bithumb notices that placed three tokens under a trading-caution designation. Today the same exchange published the opposite kind of notice for a fourth token: the designation on Injective (INJ) is lifted, and deposits resume. The two documents come from the same policy and use the same template, so they can be read as a pair — and the pair shows how little the template says about why anything happens.

Bithumb's notice feed carries the item under number 1654993, with the title "인젝티브(INJ) 거래유의종목 지정 해제" — "Removal of the trading-caution designation on Injective (INJ)". The posting time shown on the page is 2026-09-22 16:00:00, which is Korea Standard Time; the same moment is 07:00 UTC and 09:00 in Budapest.

The body opens with the sentence that appears in every notice of this family: "빗썸은 투자자 보호를 위한 거래지원 정책의 일환으로 거래지원 중인 가상자산에 대한 지속적인 모니터링 및 감독을 시행해 오고 있습니다." In English: as part of its listing policy for investor protection, Bithumb continuously monitors and supervises the virtual assets it supports. The notice then states that, under the exchange's trading-caution designation policy, it announces the removal of a designation, and gives one line under the heading of the affected asset and the reason: "거래유의 지정 사유가 해소되었다고 판단하여 거래유의 지정 해제를 결정합니다." That is: having judged that the reason for the trading-caution designation has been resolved, the exchange decides to remove the designation.

The schedule has two lines. The removal date is 2026.09.22, a Tuesday. The resumption of deposits is scheduled for 16:00 on the same day. A footnote says the schedule may change for internal reasons. The closing paragraph repeats the exchange's commitment to a sound and transparent trading environment, "외부 전문가, 재단과의 커뮤니케이션을 통해" — through communication with external experts and the foundation.

That is the whole document. It names one token, one date, one hour, and a reason described only as "resolved".

The text does not state why Injective was placed under trading caution in the first place. It does not state when the designation was imposed. It does not describe what was checked, who checked it, or what changed between the designation and its removal. It does not say whether withdrawals were affected, or whether any trading condition remains in place after 16:00. We did not open the earlier notice that imposed the designation, so the date and grounds of the original designation are, for this article, [UNVERIFIED].

This is not a criticism of the exchange; it is a description of the document type. A trading-caution notice on Bithumb is a status change with a template around it. The template has a slot for the asset and a slot for the reason, and in the removal notice the reason slot is filled with a single formula: the reason has been resolved.

On 21 September the exchange used the same template to add three tokens to the caution list. We documented those notices yesterday. For FET and EGLD the stated ground was a category of the policy that covers unresolved security incidents, quoted in the Korean text as "가상자산 지갑 또는 가상자산이 발행·전송·저장되는 분산원장 등에 원인이 밝혀지지 않거나 치유되지 않은 해킹 등 보안사고" — security incidents such as hacks, on a wallet or on the distributed ledger where the asset is issued, transferred or stored, whose cause has not been identified or remedied. For ACX the ground was a different category, concerning the reality and sustainability of the business. Those notices also gave review windows: the fourth week of October for FET and EGLD, the third week for ACX.

Put side by side, the two days show the mechanism. A designation notice names a policy category and a review window. A removal notice names neither; it only records that the category no longer applies. The reader who wants to know what happened to Injective between the two states has to go outside the notice — to the project's own communications, to the ledger, or to the exchange's earlier post — and the notice itself does not point to any of these.

The notice listing for 21 and 22 September, as we read it this morning, also contains deposit-and-withdrawal pause notices for several other assets and a notice on multichain support for USDC. We read the titles of those items on the listing page; we did not open each one, and the exact posting times of those secondary notices are [UNVERIFIED]. We mention them only to place the INJ item in context: on a large Korean exchange, the caution list moves in both directions within the same day or two, and each move is announced with the same short form.

The Kripto Akadémia teaches that an exchange notice is a primary source in the narrowest sense: it is the exchange's own statement of its own action, with a timestamp. It is not evidence about the token, the project, or the price; it is evidence about the exchange's list. Reading it for what it is — and writing down what it omits — is the discipline we practise in The Analyst Room on longer documents, and in the Uncle Sunny Academy on the method itself. The market data we publish under Market Observation is sourced from exchanges in the same way: as recorded values with timestamps, not as opinions. Earlier notes in this series are collected under Research, and the team that reads the Korean texts is introduced on the About page.

Bithumb, notice 1654993, "인젝티브(INJ) 거래유의종목 지정 해제", feed.bithumb.com/notice/1654993, posted 2026-09-22 16:00:00 KST — the title, the body text, the removal date, the deposit resumption time.

Bithumb, notices 1654962 and 1654956 (21 and 20 September 2026), as documented in our article of 21 September — the FET, EGLD and ACX designations, the policy categories quoted, the review windows.

Bithumb notice listing page, feed.bithumb.com, read 22 September 2026 morning — the titles of neighbouring notices; the individual notices were not opened.

We did not open the notice that originally placed INJ under trading caution, did not contact the exchange or the Injective project, and did not consult any price data for this article.

Educational content. Not investment advice. This article documents an exchange notice; it contains no instruction to buy, sell or hold any asset.