Upbit Pauses MON Transactions Ahead of Monad Hard Fork
South Korean cryptocurrency exchange Upbit has announced that it will temporarily suspend Monad (MON) token deposits and withdrawals due to an upcoming hard fork. The pause is scheduled to begin at 2:00 p.m. UTC on August 25, with resumption pending confirmed network stability.
The suspension is a security precaution for users on the exchange while trading may remain active, allowing users to continue buying and selling MON tokens during this time. Upbit aims to protect user funds and prevent any technical errors during the transition to the new network protocol.
The Monad hard fork represents a significant technical milestone that could influence network throughput and user adoption. The upgrade is focused on improving performance and Ethereum compatibility, making it a positive development for MON holders and the broader crypto market.