Bithumb to Halt PROS Deposits and Withdrawals for Mainnet Upgrade on June 25

South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Pharos (PROS) tokens. The halt is scheduled to begin at 5:00 a.m. UTC on June 25 and is being implemented to support a network upgrade, commonly referred to as a mainnet upgrade.

Scheduled Maintenance for Network Improvement

According to the exchange’s official notice, the suspension is a standard operational measure taken during blockchain network upgrades. Such upgrades often introduce new features, improve security, or enhance transaction efficiency. Bithumb has advised users to complete any pending PROS transactions before the cutoff time to avoid delays. The exchange has not yet provided a specific timeline for when services will resume, but similar suspensions typically last several hours or until the upgrade is confirmed stable.

Implications for PROS Traders and Holders

For traders and holders of PROS, this suspension means that no deposits or withdrawals of the token will be processed during the maintenance window. Trading pairs involving PROS on Bithumb may also be affected, though the exchange has not specified any changes to spot trading. Users are encouraged to monitor Bithumb’s official announcements for updates on the resumption of services.

Why This Matters

Mainnet upgrades are critical for the long-term health and functionality of blockchain networks. For the Pharos project, this upgrade could signal improvements in scalability, security, or new features. For Bithumb users, the suspension is a temporary inconvenience that ensures the network remains compatible and secure after the upgrade. This type of proactive maintenance is standard practice across major exchanges and is a sign of operational diligence.

Conclusion

Bithumb’s temporary suspension of PROS deposits and withdrawals on June 25 is a routine but important step to facilitate a network upgrade. Users should plan accordingly and stay informed through official channels for service restoration updates. The move reflects the exchange’s commitment to supporting blockchain network improvements, which ultimately benefits the broader ecosystem.

FAQs

Q1: When will PROS deposits and withdrawals resume on Bithumb?
A: Bithumb has not provided a specific end time. Services typically resume within hours after the mainnet upgrade is confirmed stable. Check Bithumb’s official announcements for updates.

Q2: Will my PROS tokens be safe during the suspension?
A: Yes. Your tokens remain in your Bithumb wallet during the suspension. The halt only affects the ability to send or receive PROS tokens temporarily.

Q3: What is a mainnet upgrade?
A: A mainnet upgrade is a planned update to a blockchain’s core protocol. It can introduce new features, improve security, or fix bugs. Exchanges temporarily suspend deposits and withdrawals to ensure the upgrade processes correctly and to prevent any transaction issues.