In a decisive move to ensure network security and stability, the prominent South Korean cryptocurrency exchange Upbit has announced a temporary suspension of all deposit and withdrawal services for Cosmos (ATOM). This essential maintenance window, scheduled to commence at 9:00 a.m. UTC on February 18, directly supports the Cosmos Hub’s upcoming and highly anticipated protocol upgrade. Consequently, this proactive measure highlights the critical interplay between centralized trading platforms and the decentralized networks they support, ensuring a seamless transition for one of the ecosystem’s cornerstone assets.
Upbit’s official communication provides clear and precise details for users. The suspension for the ATOM token will begin precisely at the designated time. Importantly, trading of ATOM against KRW, BTC, and USDT pairs on the exchange will continue uninterrupted during this period. This specific approach is a standard yet vital practice within the cryptocurrency industry.
Exchanges routinely halt external blockchain transactions during network upgrades to prevent the loss or misplacement of user funds. For instance, transactions sent to an old wallet version during a chain upgrade could become permanently inaccessible. Therefore, this temporary halt acts as a protective barrier, safeguarding user assets during a period of underlying network change.
Furthermore, the Cosmos Hub, which is the central blockchain within the broader Cosmos ecosystem, has a scheduled upgrade for its protocol. Network upgrades often involve significant changes to the core software, requiring all validators—the entities that secure the network—to update their nodes simultaneously. To facilitate a smooth and coordinated transition, the network typically enters a brief downtime.
Exchanges like Upbit align their operational pauses with this window. This coordination prevents any potential technical conflicts that could arise from processing transactions on an evolving blockchain.
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