Upbit, a South Korean cryptocurrency exchange, announced a temporary halt on deposits and withdrawals for Zeta Chain (ZETA) and Stratis (STRAX) starting August 14. This decision is related to network upgrades.
Reasons for the Suspension
Upbit announced the temporary halt in deposits and withdrawals for ZetaChain (ZETA) and Stratis (STRAX) to ensure asset security during network upgrades. The suspension will begin on August 14 at 23:00. Trading will continue uninterrupted during this period.
Impact on Users
The suspension is precautionary in nature, with no reported financial disruptions for users. Historical data shows that such suspensions typically do not lead to serious liquidity issues and trading volumes tend to normalize after updates.
Previous Suspension Precedents
Previous suspensions on Upbit, such as the incident in February 2025, align with standard protocols during network upgrades. Expert opinions suggest that these measures are designed to prevent problems and ensure user asset security.
Thus, the temporary suspension of operations with Zeta Chain and Stratis on Upbit is a standard practice aimed at ensuring asset security during technical upgrades. Users can remain assured as trading of other assets will not be restricted.
