Bithumb Suspends 12 Asset Transfers for Arbitrum Upgrade on Jan. 8
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Transfer Suspension: Bithumb will suspend deposits and withdrawals for 12 digital assets at 09:00 UTC on January 8, 2025, to support a critical upgrade to the Arbitrum network, aiming to ensure user fund security and optimize network performance.
- Affected Assets: The suspension impacts assets including ARB, ETH, and GMX, requiring users to complete necessary transfers before the suspension to avoid fund loss, highlighting the exchange's commitment to user fund safety.
- Trading Status: While deposits and withdrawals are paused, trading on Bithumb's internal order books will continue normally, demonstrating the exchange's operational flexibility during the upgrade period.
- Market Reaction: Market analysts note that such technical suspensions typically do not cause significant price volatility and are viewed as neutral operational events, while the upgrade itself may enhance the value and utility of the Arbitrum ecosystem in the long run.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
