Attention crypto traders! Bithumb, one of South Korea’s leading cryptocurrency exchanges, has announced a temporary suspension of BABY deposits and withdrawals. Starting at 01:00 UTC on June 28, users will be unable to move their Babylon (BABY) tokens as the platform prepares for a critical network upgrade. Here’s what you need to know.
Why is Bithumb suspending BABY deposits and withdrawals?
Bithumb is temporarily halting BABY transactions to support a network upgrade. This move ensures the security and stability of the blockchain. Key points:
- Suspension starts at 01:00 UTC on June 28
- Affects only BABY deposits and withdrawals
- Trading of BABY will remain available
What does this network upgrade mean for BABY holders?
The upgrade aims to improve the BABY network’s performance and security. While inconvenient, such upgrades are essential for long-term growth. Services will resume once Bithumb confirms network stability.
How does this compare to other crypto exchange maintenance periods?
Network upgrades are common in the crypto space. Here’s how Bithumb’s approach compares:
| Exchange | Typical Upgrade Duration | Advance Notice |
|---|---|---|
| Bithumb | 24-48 hours | 3-5 days |
| Binance | 12-36 hours | 1-3 days |
When will BABY deposits and withdrawals resume on Bithumb?
Bithumb hasn’t specified an exact timeline but promises to restore services once the network upgrade is complete and stability is confirmed. Users should monitor official announcements.
What should BABY traders do before June 28?
Traders should:
- Complete any planned BABY transactions before 01:00 UTC on June 28
- Monitor Bithumb’s official channels for updates
- Consider alternative trading pairs if needed
While temporary service suspensions can be frustrating, network upgrades ultimately benefit all users by improving security and performance. Bithumb’s proactive approach demonstrates their commitment to maintaining a reliable trading environment for BABY and other cryptocurrencies.
Frequently Asked Questions
1. Can I still trade BABY on Bithumb during the suspension?
Yes, the suspension only affects deposits and withdrawals. Trading will remain available.
2. How long will the BABY suspension last?
The duration depends on the network upgrade completion. Bithumb will announce when services resume.
3. Will other cryptocurrencies be affected?
No, this suspension only applies to the BABY token.
4. Is my BABY safe during the upgrade?
Yes, your funds remain secure. The suspension is a precautionary measure.
5. Where can I get updates about the BABY suspension?
Check Bithumb’s official website and social media channels for announcements.
