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Bithumb to Suspend SEI Deposits and Withdrawals for Network Upgrade on Aug. 4

BitcoinWorld Bithumb to Suspend SEI Deposits and Withdrawals for Network Upgrade on Aug. 4 South Korean cryptocurrency exchange Bithumb has announced the temporary suspension of SEI token deposits and withdrawals, effective Aug. 4 at 9:00 a.m. UTC.

The move is part of the platform’s support for an upcoming Sei network upgrade, a routine but critical maintenance event for blockchain networks. Why Bithumb Is Suspending SEI Transactions The suspension is a standard precautionary measure during network upgrades.

When a blockchain undergoes a protocol update, exchanges must pause token transfers to ensure that transactions are not lost or processed incorrectly during the transition.

Bithumb will resume SEI deposits and withdrawals once the network upgrade is confirmed stable and the exchange has completed its own verification checks. Sei is a layer-1 blockchain designed specifically for trading applications, aiming to offer high throughput and low latency.

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Yes, most public blockchains (like Bitcoin and Ethereum) are transparent. Transactions can be traced back to public keys and wallet addresses, meaning that while they are pseudonymous (names are not directly tied to addresses), they are not completely anonymous.

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