Bithumb Suspends Tezos (XTZ) Deposits and Withdrawals Ahead of Hard Fork

Bithumb Suspends Tezos (XTZ) Deposits and Withdrawals Ahead of Hard Fork

Bithumb, a prominent South Korean cryptocurrency exchange, has announced the temporary suspension of Tezos (XTZ) deposits and withdrawals. This measure will take effect from 7 PM KST on June 4th, 2023, due to an impending hard fork upgrade. During this suspension period, users will be unable to deposit or withdraw XTZ on the Bithumb platform. However, trading and other exchange services for XTZ will remain operational. This suspension is a precautionary measure taken to ensure the smooth transition during the hard fork upgrade. Hard forks involve significant changes to the blockchain's protocol, requiring careful coordination and maintenance to avoid potential disruptions. Bithumb has advised its users to closely monitor the exchange's official announcements for updates on the resumption of XTZ deposits and withdrawals. The exact timing of the suspension lift will depend on the completion of the hard fork upgrade and the platform's thorough post-upgrade checks. In the meantime, Bithumb encourages users to refrain from making any XTZ deposits or withdrawals during the suspension period to prevent any inconvenience or loss of funds. The exchange's commitment to user safety and smooth platform operations remains paramount throughout this process.