Bithumb Suspends KSM Deposits and Withdrawals Amid Network Issues

IconCryptoNewsTerminal Staff11 Jun, 2024

cryptonews.jpg

Bithumb Suspends KSM Deposits and Withdrawals Amid Network Issues

Bithumb, a leading South Korean cryptocurrency exchange, has temporarily halted deposits and withdrawals of Kusama (KSM) due to ongoing network problems. The suspension will remain in effect until the network issues are resolved, according to the exchange. The move comes as Kusama, a pioneer network for the Polkadot ecosystem, experiences technical difficulties. These issues have caused disruptions to transactions, prompting Bithumb to take precautionary measures to protect its users' assets. Bithumb has not provided a specific timeline for when KSM deposits and withdrawals will resume. However, the exchange has assured users that it is closely monitoring the situation and will provide updates as they become available. In the meantime, Bithumb users are advised to refrain from attempting to deposit or withdraw KSM until further notice. Affected users may wish to explore alternative exchanges or delay their transactions until the network issues are resolved.

Related News