Bithumb and Coinone Announce Temporary Transaction Halts for SC, DOGE, and XRP

South Korean cryptocurrency exchanges Bithumb and Coinone have proactively announced temporary suspensions for specific digital assets to facilitate network upgrades and system checks, underscoring standard industry practices for security and stability.

Bithumb's Siacoin Suspension: Bithumb will temporarily halt all deposits and withdrawals for Siacoin (SC) starting at 7:00 a.m. UTC on December 2. This measure is to support a crucial network upgrade for the Siacoin blockchain. During this period, SC trading on the platform is expected to remain unaffected, allowing users to continue buying and selling SC against other cryptocurrencies. The exchange emphasizes that this suspension is a routine safety precaution to integrate new network protocols and prevent potential fund loss during the transition. Users are advised to complete any urgent transactions before the deadline and monitor official Bithumb channels for updates on resumption, which may vary based on upgrade complexity.

Coinone's Trading Halt for DOGE and XRP: Coinone has scheduled a brief trading suspension for Dogecoin (DOGE) and XRP (XRP) on December 1 at 3:10 a.m. UTC, lasting approximately 10 minutes. This halt is part of a system check aimed at enhancing platform stability and security. While new trades for DOGE and XRP will be paused, existing orders and withdrawals are likely to remain operational. Coinone describes this as a standard procedure to optimize performance and ensure regulatory compliance, minimizing disruption for traders.

Both exchanges highlight that such maintenance windows are common in the cryptocurrency industry, reflecting their commitment to user asset security and operational integrity. For Bithumb users, the SC suspension facilitates a necessary blockchain upgrade, which could positively impact the Siacoin ecosystem in the long term. Similarly, Coinone's quick system check aims to provide a smoother trading experience, contributing to overall market resilience.

Investors are reminded to stay informed through official exchange announcements and plan their activities around these temporary halts to avoid inconvenience. These events, while minor, reinforce the proactive measures exchanges take to safeguard the growing crypto market.