Upbit Temporarily Halts Deposits and Withdrawals for Multiple Tokens Due to KAIA Network Maintenance

Upbit, one of South Korea's leading cryptocurrency exchanges, has issued an urgent notice regarding the temporary suspension of deposits and withdrawals for several tokens. The move is attributed to ongoing maintenance of the KAIA network, which is linked to Upbit’s internal wallet system. The suspension began on August 18 at 14:00 UTC and impacts specific tokens as part of a proactive effort to ensure the security and stability of the platform [1].

The affected tokens include Bora (BORA) and Observer (OBSR), for which both deposit and withdrawal services are suspended. Additionally, withdrawals only are halted for WEMIX (WEMIX), Somesing (SSG), DATA (DTA), Cosmo Coin (COSM), and PIXEL (PXL). While the announcement does not specify a definitive end time for the suspension, it is understood to be temporary. Users are encouraged to monitor Upbit’s official communications for updates on when services will resume [1].

The maintenance is described as necessary to enhance the security of the system, optimize transaction efficiency, and integrate infrastructure improvements. The KAIA network, which supports these operations, requires such periodic maintenance to ensure long-term reliability and performance. This aligns with standard procedures in the cryptocurrency industry where exchanges regularly conduct updates to maintain platform integrity [1].

During the maintenance window, users attempting to deposit or withdraw the affected tokens may encounter failed or delayed transactions. To avoid complications, Upbit advises users to refrain from initiating any such transfers during the specified period. Those requiring access to their tokens are recommended to plan transactions before or after the suspension period. The exchange also urges users to check official announcements for real-time updates on the status of services [1].

The announcement underscores Upbit’s commitment to maintaining a secure and efficient trading environment for its users. By prioritizing the health of its internal systems, the exchange aims to prevent potential risks such as network instability or security breaches. This approach reflects broader industry practices where operational transparency and user protection are paramount [1].

Users are reminded to treat such maintenance periods as routine and not cause for alarm. The temporary disruption serves a long-term benefit by ensuring that the system is well-maintained and secure. The suspension also highlights the importance of staying informed about exchange announcements, particularly for token holders who may be affected by such operational adjustments [1].

Upbit’s communication includes a set of practical recommendations for users, such as avoiding transfers, planning ahead, and closely monitoring service resumption. These steps help mitigate the impact of the suspension and support a smoother user experience once services resume. The FAQ section further clarifies details such as which tokens are affected, when the suspension began, and what users can expect regarding trading during the maintenance period [1].

The maintenance does not appear to impact trading activities directly, though some tokens may experience reduced liquidity or limited withdrawal options. This distinction is important for users to understand as they manage their portfolios during the suspension. Overall, the notice is consistent with Upbit’s role as a responsible operator committed to the integrity of its platform [1].

Source: [1] Upbit Deposit Withdrawal: Urgent Notice on KAIA Network Maintenance (https://coinmarketcap.com/community/articles/689afb5cbe4ae366a78a07e5/)