Upbit Announces Temporary Suspension of IOTX Deposits and Withdrawals

Upbit Announces Temporary Suspension of IOTX Deposits and Withdrawals

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by Jacob Williams

a year ago

Made with AI

Upbit, one of the leading cryptocurrency exchanges, has announced a temporary halt on deposits and withdrawals for IOTX, starting from 9:00 AM UTC on November 3rd. This decision is part of the preparations for a significant hard fork in the IoTeX network, and the document provides a justification for the fact that this upgrade is expected to enhance the network's performance and security.

Hard Fork Announcement for IoTeX Network

The hard fork is aimed at improving the security and functionality of the IoTeX network, making it essential for users to be aware of the changes.

Upbit's Advisory for Users

Upbit has urged its users to finalize any pending transactions before the suspension to prevent any potential loss of funds during this period.

Commitment to Updates

The exchange has committed to providing timely updates regarding the resumption of services once the hard fork is successfully completed.

As Upbit prepares for the IoTeX hard fork, the Bitcoin market remains on edge due to the impending repayments from the Mt Gox exchange. For more details, see Mt Gox repayments.

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