Bithumb has temporarily stopped REI deposits and withdrawals due to network issues, mirroring actions by other major South Korean exchanges as of May 7, 2025.
This suspension plays into broader security measures taken during network upgrades, reflecting wider exchange protocols aimed at safeguarding digital assets.
Bithumb Pauses REI Tokens Amid Network Upgrades
Bithumb, a leading cryptocurrency exchange in South Korea, has announced a temporary suspension of REI deposit and withdrawal services. The suspension is linked to network upgrades and block generation interruptions affecting the REI Network.
This decision echoes similar actions taken by other exchanges like Upbit due to the ongoing network upgrade. While no direct comments from Bithumb’s leadership exist, standard announcements are usually disseminated through their official website.
REI Token Fluctuates, Security Measures in Focus
The primary asset affected is the REI token, although no major changes have occurred in BTC or ETH. These suspensions are standard practice during network upgrades, ensuring system integrity and security.
While REI Network saw a slight price decrease, these fluctuations cannot be solely attributed to the suspension. Historically, these pauses help mitigate risks and provide network stability during such upgrades.
Transaction Pauses: A Historical Safety Protocol
Similar suspensions have been noted in past upgrades involving other significant networks. Exchanges like Binance and Huobi have previously suspended transactions due to network improvements, emphasizing a consistent precautionary protocol.
“Historical patterns show transaction restrictions during upgrades are standard, aimed at protecting assets. Post-upgrade periods often see enhanced network functions and security,” remarked Irene Pal of Kanalcoin. Additionally, these safety protocols were evident with the introduction of mechanisms like the Jail Mechanism during upgrades.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
