Attention Bithumb ZRC holders! An important announcement has been made regarding ZRC deposit withdrawal activities on the popular South Korean crypto exchange, Bithumb. If you hold or trade the ZRC token, this information is crucial for planning your transactions.
Bithumb Announces ZRC Deposit Withdrawal Suspension
Bithumb, a leading cryptocurrency exchange based in South Korea, has officially announced a temporary halt to deposits and withdrawals for the Zircuit (ZRC) token. This essential measure is being implemented to support an upcoming event critical to the Zircuit project.
Here are the key details you need to know:
- Exchange: Bithumb
- Token Affected: Zircuit (ZRC)
- Action: Suspension of deposits and withdrawals
- Start Time: 09:00 UTC on June 19
- Reason: In support of the Zircuit network upgrade
This Bithumb suspension means that from the specified time, users will not be able to move their ZRC tokens onto or off the exchange until the suspension is lifted. The exchange will provide further updates regarding the resumption of these services once the network upgrade is successfully completed and deemed stable.
Why the Zircuit Network Upgrade Requires Action
Network upgrades are significant events for blockchain projects. They often involve improvements to the protocol, enhanced security features, or new functionalities. To ensure the safety and integrity of user funds during such technical transitions, exchanges typically suspend deposit and withdrawal services for the affected token.
The upcoming Zircuit network upgrade is the reason behind Bithumb’s decision. Suspending transactions prevents potential issues that could arise from interacting with the network during the upgrade process. It’s a standard procedure designed to protect users and the exchange itself.
What Bithumb ZRC Users Should Do
If you plan to deposit or withdraw ZRC tokens from Bithumb, you must complete these transactions before the 09:00 UTC deadline on June 19. Any attempts made after this time will likely be unsuccessful until the suspension is lifted.
Users holding ZRC on Bithumb who do not intend to move their tokens during this period do not need to take any immediate action regarding their holdings on the exchange. However, staying informed about Bithumb’s official announcements regarding the ZRC token and the resumption of services is highly recommended.
Conclusion: Stay Prepared for the ZRC Suspension
Bithumb’s announcement of the temporary ZRC deposit withdrawal suspension is a direct result of the upcoming Zircuit network upgrade. While potentially inconvenient for those needing to move funds, this measure is standard practice and aims to protect users during a critical technical event. Ensure any necessary ZRC transactions are completed before 0:00 UTC on June 19 and monitor Bithumb’s official channels for updates on when services will resume.
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