Upbit, one of South Korea’s largest exchanges, will temporarily suspend deposits and withdrawals for Somnia (SOMI) tokens starting Aug. 6 at 9:00 a.m. UTC to facilitate a planned network upgrade. Trading of SOMI will continue uninterrupted, but users must complete pending transfers before the cutoff. The upgrade aims to boost transaction throughput and reduce latency on the Somnia blockchain.
Separately, Bithumb, another major South Korean platform, halted deposit and withdrawal services for KITE—the native token of the Kite Foundation—effective 1:06 a.m. UTC on Aug. 6. The exchange acted at the foundation’s request, though no reason or resumption timeline was provided, sparking user uncertainty. Trading availability for KITE remains subject to the exchange’s policy.
Both suspensions highlight routine operational dependencies between exchanges and project teams. While SOMI’s halt is a planned maintenance measure tied to network improvements, KITE’s abrupt pause leaves traders without clarity, potentially increasing volatility. Users are advised to monitor official announcements for updates.
