Upbit, a popular South Korean cryptocurrency exchange, has recently announced that it will temporarily suspend NEAR Protocol transactions due to an upcoming upgrade plan for the NEAR Network. Starting from 18:00 on November 5, 2024, deposit and withdrawal support for NEAR will be temporarily halted until the stability of the hard fork is fully confirmed.
Upbit has advised its users to refrain from depositing NEAR during the suspension period, as any attempted deposits may not be reflected in their accounts and could potentially be lost. However, trading of NEAR will continue as usual on the platform.
The exchange has also notified users that the process of returning certain digital assets will be paused during the suspension and will resume sequentially afterward. It is important to note that delays in deposits may occur even after the suspension due to network congestion, which may cause discrepancies between blockchain confirmation and actual deposit reflection.
To ensure the safety of users’ assets throughout the upgrade process, Upbit is working closely with the NEAR Protocol team. The NEAR Protocol team has stated on its official site that voting for protocol version 72 will begin on Tuesday, November 5, 2024, at 10:00 UTC.