Leading South Korean cryptocurrency exchange Bithumb has announced two separate temporary suspensions of deposit and withdrawal services for specific tokens to support upcoming network upgrades. The first suspension affects the dYdX (DYDX) token, while the second impacts the Neo (NEO) and Gas (GAS) tokens.
For DYDX, all deposit and withdrawal services will be halted beginning at 8:00 a.m. UTC on January 30. This action is to support a significant network upgrade for the decentralized trading protocol. Bithumb clarified that spot trading for DYDX pairs may remain operational during this period, though users should verify this on the exchange interface. The exchange did not specify an end time for the suspension, noting that the duration depends on the successful completion and stabilization of the dYdX network upgrade. Services will resume only after Bithumb issues an official completion notice.
Separately, Bithumb will suspend deposit and withdrawal services for NEO and GAS starting at 9:00 a.m. UTC on February 3. This suspension supports a scheduled and substantial upgrade to the Neo mainnet. As with the DYDX suspension, spot trading for both tokens will remain active. The suspension is expected to last 24 to 48 hours after the upgrade begins, pending confirmation of network stability.
These suspensions are described as standard, precautionary measures aligned with established industry best practices for security and operational integrity. By halting external transactions during these technically sensitive periods, Bithumb aims to prevent potential transaction failures, loss of funds, or chain splits. The exchange provided several days' advance notice for both events to allow users to plan accordingly.
The announcements highlight the ongoing evolution within the DeFi and smart contract platform sectors and the necessary infrastructure adjustments major exchanges must undertake. Bithumb's actions occur within South Korea's strict regulatory framework, reflecting the exchange's commitment to compliance and user protection as mandated by the nation's Financial Services Commission (FSC).
