On June 19, South Korean crypto exchange Upbit has clarified that a list of tokens that are said to be removed from the shelves has been circulated on the Internet. Upbit refuted the list on its official channel on the Korean messaging app Kakao, calling it "baseless". After the list allegedly started circulating on online forums, the price of counterfeit products listed on Upbit fell sharply. The incident comes as South Korea's Virtual Asset User Protection Law is due to take effect on July 19. Upbit stressed that a large-scale delisting as rumored is highly unlikely.