Upbit, South Korea’s leading cryptocurrency exchange, will temporarily suspend deposits and withdrawals to perform year-end asset audits. The effective maintenance window is 5:00 p.m. to 11:00 p.m. UTC on December 31, with Digital Asset Transactions paused from 11:00 a.m. to 11:00 p.m. UTC and KRW transactions paused from 5:00 p.m. to 11:00 p.m. UTC. Trading on the exchange’s order books is expected to remain operational during the audits.
The primary objective is a thorough audit of user assets and deposits, ensuring that digital holdings match balances recorded in user accounts. This proof-of-reserves verification enhances transparency and builds trust with the user community. To minimize disruption, users should plan transfers in advance, align time zones, enable two-factor authentication, and monitor Upbit’s official announcements or social channels for updates.
The maintenance is a short, planned interruption designed to bolster long-term asset security and operational integrity. By understanding the schedule and preparing in advance, users can navigate the period smoothly. The exercise reinforces asset safety on one of Asia’s leading crypto platforms ahead of the new year. FAQs note that trading on Upbit’s spot order books typically remains available during maintenance, while deposits and withdrawals are paused; transfers initiated before the suspension cut-off will be processed, and requests started after the pause will be queued until services resume.
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