ChainCatcher report: Korean cryptocurrency exchange Upbit has announced that, due to the Injective (INJ) network upgrade, INJ deposit and withdrawal services will be suspended starting June 4 at 19:00 Beijing Time (20:00 Korea Time) and will remain paused until network stability is confirmed. The announcement states that this suspension affects only INJ deposits and withdrawals; spot trading will continue as normal. Upbit advises users that on-chain transfers conducted during the suspension period may result in delayed settlements and, in extreme cases, could pose a risk of irreversible loss. Upbit stated that it will maintain close coordination with the Injective project team to ensure user asset security and will issue a separate notification once deposit and withdrawal services are restored.
Upbit to Pause INJ Deposits and Withdrawals for Network Upgrade
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Summary
Upbit will suspend INJ deposits and withdrawals starting at 19:00 Beijing Time on June 4 due to a blockchain upgrade. The exchange cited the network upgrade as the reason for the suspension, which will remain in effect until stability is confirmed. On-chain transfers during this period may experience delays or result in lost funds. Spot trading will continue as usual. Upbit is coordinating with Injective to safeguard user assets and will announce the resumption of services separately.
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