Bithumb Suspends MERL Deposits and Withdrawals for Major Network Upgrade
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 20 2026- Service Suspension Announcement: Bithumb has announced a temporary suspension of all deposits and withdrawals for Merlin Chain (MERL) effective at 1:30 p.m. UTC to support an upcoming network upgrade, ensuring user asset security and preventing potential transaction errors.
- Trading Continues: While deposits and withdrawals are suspended, trading of MERL against Bitcoin (BTC) and Tether (USDT) will continue uninterrupted on the Bithumb platform, providing liquidity assurance for users during this period.
- Network Upgrade Context: The upgrade involves core protocol improvements for Merlin Chain, expected to enhance security and transaction throughput, utilizing zero-knowledge roll-up technology to reduce costs and increase transaction speed while ensuring compatibility with Bitcoin.
- User Guidance Recommendations: Bithumb advises users to avoid initiating MERL transfers to deposit addresses during the suspension and to monitor official announcements for updates on service resumption, ensuring asset safety and mitigating phishing risks.
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.
