Upbit Halts KITE Deposits and Withdrawals Amid Blockchain Network Issue

South Korea's largest cryptocurrency exchange, Upbit, has temporarily suspended deposits and withdrawals of KITE, a digital asset listed on its platform. The move comes after a network issue was detected, causing disruptions to the token's blockchain.

The suspension is effective immediately and applies to both deposits and withdrawals of KITE. Upbit has not provided a specific timeline for when services will resume, stating only that the halt is necessary to ensure network stability and the safety of user funds.

KITE holders are advised to monitor official announcements from Upbit for further updates. The exchange has assured users that their assets remain secure, but deposits and withdrawals are currently unavailable.