Upbit, a major South Korean cryptocurrency exchange, has temporarily halted all REI token deposits and withdrawals due to a network issue observed with the REI Network as of May 2025.
This suspension is expected to affect REI token liquidity, although trading remains operational. Users and stakeholders wait for updates from Upbit and the REI team.
Upbit Cites Network Issue for REI Halt
Upbit announced the temporary suspension of REI transactions, highlighting a network-level issue affecting the REI Network. The announcement was made through a formal exchange notice, serving as an alert to users about potential transaction disruptions.
No official statements have been released by Upbit’s CEO Lee Seok-woo or the REI Network team. The halt is a precautionary measure aimed at maintaining operational security and protecting user funds on the platform.
As of the latest update, there are no prominent public quotes or insights from major crypto Key Opinion Leaders (KOLs) regarding the Upbit REI Network suspension incident.
REI Suspension Limits Impact on Other Cryptos
The suspension affects only the REI Network transactions on Upbit, sparing other cryptocurrencies like ETH and BTC. There is no notable impact on market values, with the restriction primarily seen as a routine exchange protocol incident.
Such incidents underscore the technological vulnerabilities faced by cryptocurrency networks. Historically, similar suspensions, including those of SUI and EGLD tokens, point to network integrity issues with potential disruption to liquidity flows until resolved.
Previous Network Issues Resolved Quickly
Similar halts have occurred due to network upgrades or technical issues, as seen with SUI and EGLD on Upbit. These incidents typically resolve after ensuring network stability and security, minimizing broader market disruptions.
Experts from Kanalcoin suggest that short-term disruptions may delay on-chain transactions. However, based on past trends, the situation is likely temporary if the network issue is promptly addressed, restoring normalcy to REI transactions.
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Author: Akinyemi Okedeji Amoo
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