Bithumb Suspends TAIKO Deposits and Withdrawals for Network Upgrade

Bithumb, a South Korean cryptocurrency exchange, has announced that it will temporarily halt deposits and withdrawals for TAIKO, the native token of the Taiko network, to facilitate a scheduled network upgrade. The suspension begins at 7:00 a.m. UTC today.

The move is a standard industry practice to ensure transactions are not lost or processed incorrectly during the transition. Traders who actively use TAIKO for arbitrage, liquidity provision, or cross-exchange transfers may be affected by the temporary market liquidity issue.

Bithumb has committed to notifying users once the network is stable and services are fully restored. The exchange's advance notice allows traders to plan their activities in advance. The exact duration of the maintenance window has not been specified, but similar upgrades typically last a few hours.