Upbit Temporarily Suspends ATOM Transfers for Network Upgrade

Upbit, one of South Korea's largest cryptocurrency exchanges, has announced a temporary halt in deposits and withdrawals for Cosmos (ATOM) tokens. This decision is aimed at protecting user assets during an upcoming network upgrade.

The suspension will take effect on May 20 at 6:00 a.m. UTC and may last until the upgraded network is confirmed stable. During this time, users can still trade ATOM tokens, but transfers into or out of the exchange will be affected.

The exchange's move is part of its efforts to ensure seamless coordination with decentralized networks during infrastructure upgrades. This practice has become standard in the industry, as seen with major exchanges like Binance and Coinbase.