Statement on Recent False Rumors and CPX Price Volatility

Dear CoinUp Users and Community Partners,

Recently, CoinUp has become aware of certain inaccurate, one-sided, or misleading information circulating in some media outlets and online communities regarding CoinUp, the recent price volatility of CPX, and the identity of certain individuals. In order to prevent misinformation, protect users’ right to accurate information, and maintain market order and platform reputation, CoinUp hereby issues the following statement:

I. Clarification Regarding Relevant Individual(s)

Upon verification, Zhu Pan is not a member of the CoinUp platform and is not involved in CoinUp’s core management, asset management, risk control decision-making, or day-to-day operations.

The individual in question is associated with a project party of a project that has been listed on the CoinUp platform. Any attempt by external parties to directly associate that individual’s personal conduct, past project history, or market rumors with CoinUp as a platform entity constitutes an inaccurate interpretation and does not reflect the facts.

CoinUp has always adhered to platform-based, team-based, and standardized operations. The platform’s core business, user asset management, risk control systems, and product services are independently managed and operated by the CoinUp team.

II. Statement Regarding CPX Price Volatility

In response to the recent sharp short-term price fluctuations in the CPX/USDT trading pair, the platform initiated an internal review immediately upon detection.

Based on the preliminary findings currently available, the volatility appears to have been primarily caused by concentrated selling pressure in the market over a short period of time. The platform is continuing to investigate the specific causes, related account trading activity, and relevant market data. Should there be any confirmed findings or material updates, CoinUp will disclose them to users through official channels in a timely manner.

At the same time, following a comprehensive review by the platform’s technical, security, and risk control teams, CoinUp confirms that the platform has not experienced any hacking incident, data breach, exploitation of system vulnerabilities, or asset custody abnormality. The wallet system, account infrastructure, and related custody services remain secure, stable, and fully under control. Deposit, withdrawal, and trading functions are operating normally, and user assets have not been affected.

III. Regarding False Information and Malicious Association

CoinUp firmly opposes any attempt to forcibly associate the platform with unverified personal rumors or historical disputes, particularly where such content uses highly misleading and unfounded labels such as “exit scam” or “fraud” without factual basis.

CoinUp respects media oversight and welcomes constructive feedback, suggestions, and reasonable questions from the community. However, all public communication should be based on verified facts. CoinUp reserves the right to pursue legal action against any individual or entity that maliciously fabricates or disseminates false information, deliberately misleads the market, or damages the platform’s reputation and user confidence.

IV. Follow-up Actions by the Platform

To further protect user interests and maintain market order, CoinUp will continue to take the following actions:

1. Continue investigating and verifying the cause of the abnormal CPX price movement, and provide timely updates to the community as the review progresses;
2. Further improve information management and risk review mechanisms for ecosystem projects, partners, and relevant responsible parties;
3. Strengthen trading risk monitoring and abnormal activity detection to safeguard market order;
4. Continue ensuring the security of deposits, withdrawals, trading activities, and user account assets, while maintaining stable platform operations.

CoinUp always places user asset security, trading safety, and the platform’s long-term sustainable development as top priorities. We understand users’ concerns during periods of market volatility, and we appreciate the continued attention and oversight from our users, community partners, and media.

Please refer only to information released through CoinUp’s official announcements and official communication channels. We urge all users to assess market volatility rationally, manage trading risks prudently, and remain vigilant against false rumors.

CoinUp Team
June 23, 2026