Bithumb to Temporarily Halt Base Network Deposits and Withdrawals for Scheduled Upgrade

South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for all virtual assets on the Base (BASE) network, citing a scheduled mainnet upgrade. The service interruption will take effect at 10:00 a.m. UTC on May 28.

Timeline and Scope of the Suspension

The suspension applies exclusively to transactions involving the Base network, a layer-2 blockchain built on Ethereum and incubated by Coinbase. Bithumb has not specified an exact end time for the pause but stated that normal services will resume once the upgrade is completed and network stability is confirmed. Users are advised to complete any pending Base network transactions before the cutoff time to avoid delays.

Why the Upgrade Matters

Mainnet upgrades are routine but critical events for blockchain networks. They often introduce performance improvements, security patches, or new functionality. For Base, which has seen growing adoption for decentralized finance (DeFi) and token transfers, maintaining network integrity is essential. Exchanges like Bithumb must coordinate with these upgrades to ensure asset safety and accurate ledger reconciliation.

Impact on Traders and Users

For Bithumb users holding or transacting in Base network assets, the temporary halt means that any deposits or withdrawals initiated after the deadline will be queued and processed only after the upgrade is complete. Trading of these assets on the exchange itself may continue unaffected, as the suspension applies specifically to on-chain transfers. Users should monitor Bithumb’s official announcements for updates on resumption timing.

Broader Context for Exchange Maintenance

This is not an isolated event. Major exchanges worldwide regularly suspend services during network upgrades to prevent transaction failures or asset losses. Similar pauses have occurred on platforms like Binance and Upbit for networks including Ethereum, Arbitrum, and Optimism. Bithumb’s proactive communication aligns with standard industry practice aimed at minimizing user disruption.

Conclusion

The temporary suspension of Base network deposits and withdrawals on Bithumb is a precautionary measure tied to a scheduled mainnet upgrade. While the interruption may cause short-term inconvenience, it reflects the exchange’s commitment to network security and operational reliability. Users should plan their transactions accordingly and await further updates from Bithumb regarding the resumption of services.

FAQs

Q1: When exactly will Bithumb suspend Base network services?
The suspension begins at 10:00 a.m. UTC on May 28. Users should complete any pending Base network deposits or withdrawals before this time.

Q2: Will trading of Base network assets be affected?
Trading on the exchange itself may continue as normal. The suspension applies only to on-chain deposits and withdrawals during the upgrade window.

Q3: How long will the suspension last?
Bithumb has not provided an exact end time. Services will resume once the mainnet upgrade is completed and network stability is verified. Users should monitor official announcements for updates.