Upbit Temporarily Suspends INJ Transfers Due to June 4 Network Upgrade

Upbit, a major South Korean cryptocurrency exchange, is halting deposits and withdrawals of Injective (INJ) tokens on June 4 due to an upcoming network upgrade. The halt will begin at 11:00 a.m. UTC and may cause temporary inconvenience for users attempting to move funds.

The Injective blockchain, optimized for decentralized finance (DeFi), is expected to undergo improvements in transaction speed and cross-chain functionality as part of the update. Users holding INJ on Upbit are advised to complete any desired transfers before the cutoff time to avoid being affected by the suspension.

Historically, network upgrades have not caused significant price disruption for major tokens like INJ. However, short-term volatility can occur around the maintenance window, particularly if notable changes are introduced to tokenomics or network functionality.