South Korea's leading cryptocurrency exchanges, Upbit and Bithumb, have announced temporary suspensions of deposit and withdrawal services for specific networks, impacting traders and investors. Upbit suspended all Solana network operations, including for tokens like SOL, USDC, BONK, PENGU, ORCA, SOON, DOOD, and PUMP, citing wallet system maintenance for essential upgrades and security checks. The exchange did not provide a specific timeline for resumption but assured that trading of affected assets remains active internally.
Similarly, Bithumb temporarily halted MERL deposits and withdrawals starting at 4:55 a.m. UTC on November 26, 2025, to support Merlin Chain's network upgrade. This coordinated pause aims to ensure a smooth transition, enhance security, and integrate new features, with trading continuing uninterrupted. Both exchanges emphasized that user funds are secure during these periods and recommended monitoring official channels for updates on service restoration.
These suspensions highlight the importance of exchange maintenance in the crypto ecosystem, often leading to short-term inconveniences but contributing to long-term reliability and security. Traders are advised to adjust strategies, explore alternative platforms for urgent transactions, and avoid panic selling, as such events are routine and typically resolved within 24-48 hours.
