Bithumb Halts ONT, ONG, MBL Transactions Due to Ontology Network Issue

Bithumb has temporarily suspended deposits and withdrawals for Ontology (ONT), Ontology Gas (ONG), and MovieBloc (MBL) due to an issue with the Ontology network. The suspension took effect at 9:21 a.m. UTC on unspecified date, according to Bithumb's official announcement.

The exchange cited an issue with the Ontology network as the reason for the halt. This means that users cannot move these tokens in or out of the platform while the issue is being resolved. Trading on other networks for these assets remains unaffected.

Bithumb did not provide specific details about the nature of the network issue, but such suspensions are common in the cryptocurrency industry when exchanges detect anomalies or technical problems that could compromise transaction integrity or user funds.

The affected tokens are built on the Ontology network, a high-performance blockchain designed for digital identity and data solutions. ONT is the main token, while ONG is used to pay for network fees. MovieBloc is a decentralized content distribution platform that also operates on Ontology.