South Korea's two largest cryptocurrency exchanges, Bithumb and Upbit, have announced temporary suspensions of services for the Tottenham Hotspur (SPURS) fan token and Injective (INJ), respectively. These actions are being taken to facilitate critical technical events on their respective blockchains.
Bithumb SPURS Withdrawal Halt: Starting April 27 at 12:00 a.m. UTC, Bithumb will suspend all withdrawals of the SPURS token. This halt is required to support a token migration and swap, a process that often involves updating smart contracts or transitioning to a new blockchain standard. The exchange will handle the migration automatically for users, with withdrawals expected to resume within 24-48 hours. The SPURS token is a fan token issued on the Chiliz blockchain via the Socios.com platform.
Upbit INJ Deposit and Withdrawal Suspension: Upbit will suspend all deposits and withdrawals for Injective (INJ) starting April 28 at 9:00 a.m. UTC. This suspension is necessary to support an upcoming network upgrade for the Injective blockchain, a layer-1 network focused on decentralized finance and cross-chain derivatives trading. The halt is a standard precaution to prevent transaction failures or asset loss during the upgrade. Trading on Upbit's order book may continue, but the exchange has not confirmed this.
Both exchanges emphasize that user funds are safe during these periods and that services will resume upon completion and verification of the respective upgrades. Users are urged to complete any pending transactions involving SPURS or INJ before the specified deadlines.
