Bithumb has informed users about a temporary suspension of POKT deposits and withdrawals due to an upgrade of the Pocket Network.
Reasons for POKT Suspension
The reason behind Bithumb's POKT suspension is linked to a significant mainnet upgrade of the Pocket Network. Starting at 9:00 a.m. UTC on September 16, users will be unable to deposit or withdraw POKT tokens, a necessary step for ensuring a successful transition to an enhanced network.
Implications of POKT Suspension for Users
The POKT suspension on Bithumb will come with important implications for users:
* **Deposit Freeze:** Deposits of POKT tokens from external wallets or other exchanges will be prohibited starting at 9:00 a.m. UTC on September 16. Any deposits made after this time may be lost or delayed. * **Withdrawal Halt:** Users will also be unable to transfer POKT out of their Bithumb accounts once the suspension takes effect. Planning withdrawals in advance is advisable. * **Trading Status:** While deposits and withdrawals are suspended, trading of POKT on Bithumb's spot market is generally unaffected. It is recommended to follow the official announcement from Bithumb for specific trading updates during the suspension period.
Preparing for the POKT Suspension
To minimize any inconvenience from the POKT suspension, users should take the following steps:
* **Review Your Holdings:** Check your Bithumb account for any POKT that may need to be moved before the deadline. * **Plan Transactions:** Ensure any deposits or withdrawals are completed ahead of the September 16, 9:00 a.m. UTC deadline. * **Stay Updated:** Follow Bithumb's official announcements and Pocket Network's channels for real-time updates on the upgrade status and any resumption of services. * **Understand the Benefits:** Remember that these updates are designed to enhance network efficiency, potentially benefiting POKT holders through improved functionality and ecosystem growth.
The temporary POKT suspension on Bithumb is a necessary measure to support the upcoming upgrade of the Pocket Network. Users are advised to prepare transactions in advance of September 16 to avoid any issues.
