Upbit to Temporarily Suspend Deposits and Withdrawals for ELF on May 29

IconCryptoNewsTerminal Staff23 May, 2024

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Upbit to Temporarily Suspend Deposits and Withdrawals for ELF on May 29

Upbit, a major South Korean cryptocurrency exchange, has announced that it will temporarily suspend deposits and withdrawals for ELF (ELF) starting at 12:00 pm on May 29. The suspension is due to an ELF network upgrade that will require the ELF network to be halted for approximately 12 hours. During this time, no ELF deposits or withdrawals will be processed. Upbit has advised its users to take the necessary steps to ensure that their ELF balances are not affected by the suspension. Users who have open orders for ELF will have their orders automatically canceled. The suspension is expected to end at 12:00 am on May 30. Upbit will provide updates on the progress of the ELF network upgrade through its official channels.

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