Bithumb Suspends POKT Deposits and Withdrawals Before Pocket Network Upgrade

South Korean cryptocurrency exchange Bithumb has temporarily suspended deposits and withdrawals for POKT tokens due to an upcoming major mainnet upgrade on the Pocket Network. The suspension began on August 12 at 09:30 UTC and is intended to ensure the safety and integrity of user funds during the transition period [1]. This move is consistent with industry practices, where exchanges often halt related transactions during significant network upgrades to prevent technical issues, transaction failures, or potential fund loss [1].

The Pocket Network mainnet upgrade is expected to bring improvements such as enhanced scalability, stronger security, or architectural changes, all of which are crucial for the long-term development of the blockchain ecosystem [1]. Bithumb’s proactive approach allows the network to transition smoothly while minimizing disruptions for users. However, the suspension affects only deposit and withdrawal functions—trading of POKT tokens on Bithumb’s spot markets is not impacted, though users are advised to confirm details through official channels [1].

For POKT holders, the timing of the suspension is critical. Users who plan to move their tokens to or from Bithumb must complete these actions before August 12 at 09:30 UTC, as any transactions attempted after the deadline will be unsuccessful. Delays could result in assets being inaccessible until the suspension is lifted [1]. Bithumb’s announcement provides a clear timeline for users to adjust their plans accordingly.

The temporary suspension highlights the importance of monitoring official announcements from exchanges. Regularly checking updates through verified sources helps users avoid surprises and manage their digital assets more effectively. Setting reminders for key dates and understanding the reasons behind such suspensions are essential practices for crypto holders [1].

This move by Bithumb is not unusual in the crypto space. Network upgrades often require coordination among exchanges and blockchain developers to maintain system stability. By temporarily halting POKT transactions, Bithumb is aligning with broader efforts to support the success of the Pocket Network upgrade and protect user interests.

Users are advised to track further updates through Bithumb’s official website or announcement section, as the duration of the suspension will depend on the completion of the network upgrade and the exchange’s evaluation of system readiness [1]. While the exact resumption date has not been specified, Bithumb is likely to communicate this information once the upgrade is finalized.

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Source: [1] Urgent: Bithumb Halts POKT Token Deposits & Withdrawals Ahead of Major Upgrade (https://coinmarketcap.com/community/articles/689b0a9cb37c031160651882/)