Bithumb Suspends Zilliqa Deposits and Withdrawals Over Security Concerns

Bithumb, one of South Korea's largest cryptocurrency exchanges by trading volume, has suspended Zilliqa (ZIL) deposits and withdrawals due to suspected security concerns.

The halt will take effect at 9:50 a.m. UTC on July 20, according to an official notice from the exchange. The suspension applies to all ZIL deposits and withdrawals on Bithumb's platform, but the specific nature of the security issue has not been disclosed.

The exchange stated that it will provide further updates as the situation develops, advising users with pending ZIL transactions to monitor its announcements for the resumption timeline. This decision reflects a cautious approach to user asset protection and underscores ongoing security challenges faced by centralized exchanges.