Upbit Halts ATOM Deposits and Withdrawals for Cosmos Network Upgrade
South Korean cryptocurrency exchange Upbit has announced that it will temporarily halt deposits and withdrawals for Cosmos (ATOM) starting at 9:00 a.m. UTC on September 2. The suspension is necessary to support a scheduled network upgrade on the Cosmos blockchain.
The upgrade, which aims to improve performance, security, and functionality, requires validators and exchanges to update their software. A brief halt in transactions is a standard precautionary measure to prevent any processing errors or loss of funds.
For users holding ATOM on Upbit, this means they will not be able to move funds in or out of the exchange during the upgrade window. The exact duration of the suspension is typically announced by the exchange once the upgrade is completed and network stability is confirmed.