Bithumb, a leading South Korean crypto exchange, has announced a temporary suspension of Zilliqa (ZIL) transactions on June 2. This decision is linked to upcoming updates to the Zilliqa network and essential server maintenance.
Reasons for Halting Zilliqa Transactions
The suspension is implemented to ensure the safety and integrity of user funds, as well as to successfully carry out network upgrades. Deposits and withdrawals will resume only after network stability is confirmed.
Understanding the Zilliqa Upgrade
The Zilliqa upgrade is significant for improving the platform's performance. It includes enhancements in scalability, additional security features, and new functionalities. Such upgrades are essential for maintaining the platform's competitiveness.
Advice for Zilliqa Holders on Bithumb
ZIL holders on Bithumb should complete all deposit and withdrawal operations before June 2. It is important not to attempt to send funds during the suspension to avoid potential losses. Users are advised to monitor Bithumb's official announcements regarding service resumption.
The announcement of a temporary halt on Zilliqa transactions on Bithumb is a standard measure during network upgrades. This step ensures the safety of user funds and the stable operation of the platform post-upgrade.
