Upbit to Temporarily Suspend MON Deposits and Withdrawals for Monad Hard Fork Support

BitcoinWorld Upbit to Temporarily Suspend MON Deposits and Withdrawals for Monad Hard Fork Support South Korean cryptocurrency exchange Upbit has announced a temporary suspension of MON token deposits and withdrawals. The pause is scheduled to begin at 2:00 p.m. UTC on Aug.

25 and is tied to the upcoming Monad hard fork. Why Is Upbit Suspending MON Transactions? Upbit stated that the suspension is necessary to ensure network stability during the Monad hard fork.

Hard forks can introduce new consensus rules or features, requiring exchanges to update their infrastructure to avoid processing invalid transactions. By pausing deposits and withdrawals, Upbit aims to protect user funds and prevent any technical errors during the transition.

The exchange has not specified an exact resumption time, noting that services will resume once network stability is confirmed. Historically, similar maintenance periods last from a few hours to a full day, depending on the complexity of the upgrade.