South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Injective (INJ), a layer-1 blockchain protocol. The halt is scheduled to take effect at 8:00 a.m. UTC on July 29, 2025, and is part of a planned wallet system upgrade.
Details of the Suspension
According to an official notice from Bithumb, the suspension is necessary to perform maintenance and improvements on the exchange’s INJ wallet infrastructure. During this period, users will be unable to deposit or withdraw INJ tokens. Trading of INJ on the platform is expected to continue as normal, though users are advised to complete any pending transactions before the cutoff time.
The exchange has not specified an exact duration for the suspension but stated that services will resume once the upgrade is complete. Bithumb will issue a separate announcement when deposits and withdrawals are reinstated.
Why This Matters for INJ Holders
Bithumb is one of the largest cryptocurrency exchanges in South Korea, a key market for digital asset trading. Temporary suspensions of this nature are standard practice during wallet maintenance, but they can create short-term liquidity constraints for traders who rely on the platform for INJ transfers. Users holding INJ on Bithumb should plan accordingly and consider moving funds to external wallets before the deadline if they require access during the suspension period.
Injective (INJ) is a decentralized exchange protocol that enables cross-chain trading and derivatives. The token has seen increased activity in recent months as the broader DeFi ecosystem continues to expand.
Market and Operational Context
Wallet upgrades are routine for exchanges seeking to improve security, scalability, or user experience. However, they can temporarily affect token availability and market dynamics. For Injective, a relatively high-volume token on Korean exchanges, the suspension may lead to reduced on-chain activity from Bithumb users until normal operations resume.
Traders and investors should monitor Bithumb’s official channels for updates on the resumption of services. The exchange has a history of completing such maintenance within a few hours to a day, though exact timelines vary.
Conclusion
Bithumb’s temporary suspension of INJ deposits and withdrawals on July 29 is a planned maintenance event aimed at upgrading wallet infrastructure. While trading remains unaffected, users should finalize transfers before the deadline to avoid inconvenience. The move reflects standard operational procedures for major exchanges and is unlikely to have a lasting impact on the Injective ecosystem.
FAQs
Q1: Will my INJ tokens be safe during the suspension?
Yes. Your INJ tokens held on Bithumb remain secure during the wallet upgrade. The suspension only affects deposits and withdrawals, not the storage of existing balances.
Q2: Can I still trade INJ on Bithumb while deposits and withdrawals are paused?
Yes, trading of INJ is expected to continue normally on the platform during the maintenance period.
Q3: How long will the INJ suspension last?
Bithumb has not provided a specific end time. The exchange will announce when services resume. Typically, such upgrades are completed within a few hours to a day.
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