South Korean cryptocurrency exchange Upbit has announced a temporary suspension of deposits and withdrawals for Scroll (SCR) beginning at 3:00 a.m. UTC on June 25. The halt is scheduled to accommodate a network upgrade on the Scroll blockchain.
Details of the Suspension
According to Upbit’s official notice, the suspension will affect all SCR token transfers on the platform. The exchange has not specified an exact resumption time but stated that services will be restored once the network upgrade is completed and stability is confirmed. Users are advised to monitor Upbit’s announcements for updates.
Why This Matters for Traders
Network upgrades are routine maintenance events that introduce improvements to blockchain protocols, such as enhanced security, scalability, or functionality. For traders holding SCR on Upbit, this means they will be unable to move their tokens in or out of the exchange during the window. Spot trading of SCR may continue unaffected, but users should plan accordingly to avoid disruptions to their strategies.
Scroll’s Recent Development Activity
Scroll is a layer-2 scaling solution for Ethereum, designed to improve transaction throughput while maintaining security. The project has been actively developing its network, and this upgrade aligns with ongoing efforts to refine its infrastructure. Upbit, as one of the largest exchanges in South Korea, often coordinates with projects to ensure smooth transitions during such events.
Conclusion
The temporary suspension is a standard precautionary measure to protect user assets during network changes. Traders should remain informed through official channels and adjust their activity before the deadline. Upbit has not indicated any broader impact on other tokens or services.
FAQs
Q1: Will my SCR be safe during the suspension?
Yes. Your SCR holdings on Upbit will remain accessible for trading, but deposits and withdrawals will be temporarily unavailable.
Q2: How long will the suspension last?
Upbit has not provided a specific end time. Services will resume once the network upgrade is complete and the blockchain is stable.
Q3: Can I still trade SCR on Upbit during the suspension?
Yes, spot trading of SCR is expected to continue as normal. Only deposits and withdrawals are affected.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
