Bithumb Halts MEV Deposits and Withdrawals Amid Meverse Network Disruption

South Korean cryptocurrency exchange Bithumb has temporarily suspended deposits and withdrawals for the MEV token, citing network issues on the Meverse blockchain. The exchange announced the halt on March 21, 2025, without specifying an exact timeline for resumption.

Network Disruption Triggers Suspension

According to Bithumb’s official notice, the suspension is a precautionary measure following instability detected on the Meverse network. The exchange stated that deposits and withdrawals for MEV will remain unavailable until the network is confirmed to be operating normally. Bithumb has advised users to monitor its announcements for updates on service restoration.

Meverse is a relatively lesser-known blockchain platform, and the specific nature of the network issue has not been disclosed. Such disruptions can stem from various causes, including software bugs, consensus failures, or security vulnerabilities. At the time of writing, the Meverse team has not issued a public statement regarding the incident.

Impact on Traders and Market Activity

The suspension prevents MEV holders from moving tokens into or out of Bithumb, effectively locking liquidity for the token on the exchange. This can lead to price volatility as trading may continue on other platforms where MEV is listed, though with reduced arbitrage opportunities.

Bithumb is one of South Korea’s largest cryptocurrency exchanges by trading volume, and its decisions often influence market sentiment for listed tokens. The halt may also raise concerns among MEV investors about the token’s underlying infrastructure and reliability.

What Traders Should Know

Users with MEV balances on Bithumb can still trade the token internally on the exchange’s order book, but they cannot deposit new tokens or withdraw existing ones until the issue is resolved. Bithumb has not indicated any impact on other tokens or services.

This is not the first time a South Korean exchange has suspended services due to network problems. Similar incidents have occurred in the past with other tokens, often resolving within a few days after the underlying network is patched or stabilized.

Conclusion

Bithumb’s temporary suspension of MEV deposits and withdrawals reflects the exchange’s commitment to user asset safety amid unresolved network issues on Meverse. The situation remains fluid, and further updates are expected once the Meverse team addresses the underlying problem. Traders holding MEV on Bithumb should stay alert for official communications and consider the potential for continued service disruption.

FAQs

Q1: Why did Bithumb suspend MEV deposits and withdrawals?
Bithumb halted MEV services due to network issues on the Meverse blockchain, citing instability that could affect transaction processing and asset security.

Q2: Can I still trade MEV on Bithumb during the suspension?
Yes, internal trading on Bithumb’s order book remains available. Only deposits and withdrawals to and from external wallets are temporarily disabled.

Q3: When will MEV deposits and withdrawals resume on Bithumb?
Bithumb has not provided a specific timeline. Services will resume once the Meverse network is confirmed to be operating normally. Users should monitor Bithumb’s official announcements for updates.