Bithumb Halts KITE Deposits and Withdrawals Following Foundation Request

Bithumb, one of South Korea's largest cryptocurrency exchanges, has temporarily suspended deposits and withdrawals for KITE, its native token. The halt took effect at 1:06 a.m. UTC today, following a formal request from the Kite Foundation.

The exchange has not specified a timeline for resumption, leaving traders and investors uncertain about the immediate future of the token. According to Bithumb's official announcement, the suspension was implemented due to technical upgrades or network maintenance, although the specific reason remains unclear.

The Kite Foundation has not yet issued a public statement beyond the request that triggered the suspension. This lack of communication adds to the uncertainty, and affected users are advised to monitor official channels for updates.