Coinone Temporarily Suspends ALGO Deposits and Withdrawals Due to Algorand Node Issue

IconCryptoNewsTerminal Staff09 Jul, 2024

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Coinone Temporarily Suspends ALGO Deposits and Withdrawals Due to Algorand Node Issue

Coinone, a South Korean cryptocurrency exchange, has announced the temporary suspension of ALGO deposits and withdrawals on its platform. The decision was made due to an issue affecting the Algorand (ALGO) node, according to an official announcement on the Coinone website. The suspension will remain in effect until further notice. Coinone has not provided a specific timeline for the reinstatement of ALGO transactions. The exchange has urged users to refrain from sending ALGO to Coinone addresses during this period, as the funds may not be credited. This temporary suspension is a precautionary measure implemented by Coinone to ensure the security and stability of its platform. The exchange is actively working with the Algorand team to resolve the issue and resume ALGO transactions as soon as possible. Users with any inquiries or concerns are advised to contact Coinone's support team for further assistance.

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