Cryptocurrency exchange Upbit has announced a temporary halt on eCash operations on May 15 for a planned network upgrade.
Suspension of eCash Operations on May 15
Upbit will temporarily suspend deposits and withdrawals of eCash (XEC) starting on May 15 due to a planned network upgrade. This measure is part of their routine maintenance procedures aimed at ensuring network integrity and operational stability.
Minimal Disruption and Quick Recovery
Minimal financial disruption is expected as only eCash is impacted, and Upbit will continue other operations as usual. The exchange assures users of swift resumption post-upgrade. Such maintenance actions typically cause a temporary decline in liquidity or volume for the affected asset, with issues resolving once operations normalize. No major regulatory or financial complications are anticipated.
Past Upbit Upgrade Pauses
Previous suspensions, such as those involving Validity (VAL), reflect this situation. Actions were temporary and functionality was quickly restored, maintaining user trust and market stability. Experts indicate that temporary disruptions from similar maintenance lead to short-lived impacts, with ecosystem functions swiftly returning to normal levels following upgrades, supported by historical performance data.
In summary, Upbit continues to demonstrate its commitment to system reliability and user interests by performing necessary network upgrades while minimizing impacts on clients.
