Upbit, South Korea’s largest crypto exchange, announced a temporary suspension of Scroll (SCR) deposits and withdrawals starting August 19 at 11:00 AM KST due to operational reasons.
The suspension might affect transaction convenience, but trading continues. No significant market disruptions are anticipated unless additional network issues arise.
Upbit, managed by Dunamu Inc., announced the temporary suspension of Scroll (SCR) deposits and withdrawals starting August 19 at 11:00 AM KST. This affects only deposits and withdrawals, while trading typically remains unaffected unless specified by Upbit.
The suspension is due to a wallet/network-related issue, stated in Upbit’s official notice:
Upbit Operations, Official Notice, Upbit (Dunamu Inc.), “Temporary suspension of Scroll (SCR) deposit and withdrawal support from 11:00 AM (KST) on August 19. Deposit/withdrawal services will resume once stability is confirmed.”Services will resume once network stability is confirmed. The announcement was made through Upbit’s official notice board, with no additional commentary from executives or KOLs.
SCR Transactions Disruption: Short-Term Friction Expected
The suspension mainly affects SCR transactions on Upbit, causing short-term friction in moving these holdings. Other assets like ETH and BTC remain unaffected. Past suspensions rarely trigger broader market impacts unless associated with significant network issues.
While financial effects from the suspension appear limited, historical trends indicate exchange balance disruptions might ensue. However, the regulatory and technological consequences remain minimal as such suspensions are common operational measures by exchanges during maintenance.
Routine Measures: Historical Precedents and Expert Views
Similar temporary suspensions have been observed during network maintenance or wallet upgrades, such as with STX. Typically, these activities resume post stability confirmation. These routine operational measures manage important exchange activities without broad market disruption.
Experts, citing past trends, suggest potential outcomes remain aligned with common operational impacts without significant shifts in trading or market sentiment. Insight from external experts would provide enriched perspectives on these routine exchange actions and their market interplay.
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