Bithumb has announced a temporary suspension of REI token deposits and withdrawals on their platform as of May 31, 2025, following a network upgrade impacting all major Korean exchanges.
The suspension, attributed to a REI Network upgrade, is part of routine exchange measures. This aims to secure validator integrity, affecting the REI token and not expected to significantly impact broader cryptocurrency markets.
Bithumb Ensures Security Amid REI Upgrade
Bithumb’s action to suspend REI transactions aligns with other Korean exchanges during the REI Network upgrade. The issue involves block generation interruptions, prompting synchronized responses among exchanges to protect user assets. Upbit Exchange noted, “Such suspensions are standard operating procedure when network issues are detected, to prevent delayed deposits, failed withdrawals, or potential security risks.” More information can be found here.
Korean Exchanges Conduct Routine Suspension Measures
Korean exchanges assert the suspension is a routine measure in response to network changes. No major financial disturbances have been recorded so far, though REI’s price saw a brief decline. Market participants typically view such interruptions as precautionary.
With updated security features, the network aims to enhance long-term stability. Historical data suggests temporary disruptions often result in few long-term impacts, with exchanges resuming operations swiftly post-upgrade.
Historical Precedents Suggest Quick Resumption
Similar suspensions, like Upbit’s STX halt, have historically been resolved quickly, suggesting REI’s suspension may follow suit. Past precedents indicate a contained impact to the specific tokens involved. This aligns with positions from the Binance Exchange, where an official update noted the coordination among exchanges during the REI Network upgrade.
Experts from Kanalcoin suggest the REI upgrade might set new security standards for blockchain networks. Utilizing robust technical solutions, this adaptation could foster greater trust in decentralized systems, potentially improving network resilience.
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