Bithumb to Temporarily Halt Scroll (SCR) Deposits and Withdrawals for Network Upgrade

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Bithumb to Temporarily Halt Scroll (SCR) Deposits and Withdrawals for Network Upgrade

South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Scroll (SCR) beginning at 3:00 a.m. UTC on June 25. The halt is being implemented to support a scheduled network upgrade for the Scroll blockchain.

Timeline and Scope of the Suspension

According to Bithumb’s official notice, the suspension will take effect early on June 25, with no specific end time provided. The exchange has advised users to complete any pending SCR transactions before the cutoff to avoid delays. Deposits and withdrawals for SCR will remain unavailable until the upgrade is complete and the network is deemed stable.

Bithumb has not yet announced a specific resumption time but stated that a separate notice will be issued once normal operations can safely resume. Users are encouraged to monitor Bithumb’s official announcements for the latest updates.

What the Scroll Network Upgrade Entails

Scroll is an Ethereum layer-2 scaling solution that uses zero-knowledge rollups to improve transaction throughput and reduce costs. Network upgrades for such platforms typically involve changes to the underlying protocol, smart contract logic, or validator infrastructure. While Bithumb has not disclosed the exact technical details of this upgrade, similar events often require exchanges to pause operations temporarily to ensure compatibility and security.

The suspension is a standard precautionary measure. Exchanges like Bithumb routinely halt services during major network upgrades to prevent failed transactions, double-spends, or other technical issues that could affect user funds.

Implications for SCR Traders

For traders holding SCR on Bithumb, the suspension means that they will not be able to move tokens off the exchange or deposit new SCR during the upgrade window. Trading pairs involving SCR on Bithumb may also be affected, though the exchange has not explicitly stated whether spot trading will continue. Users with open orders should review their positions before the suspension takes effect.

Historically, such halts are temporary and typically last from a few hours to a day, depending on the complexity of the upgrade. However, delays can occur if unexpected issues arise during implementation.

Conclusion

Bithumb’s decision to suspend SCR deposits and withdrawals reflects standard operational practice during critical blockchain upgrades. While the halt may cause short-term inconvenience for some users, it is designed to protect network integrity and user assets. The exchange has committed to providing a follow-up notice once the upgrade is complete and services can be safely restored. Traders and holders of SCR should plan accordingly and stay tuned for official updates.

FAQs

Q1: When will Bithumb resume SCR deposits and withdrawals?
A: Bithumb has not specified an exact resumption time. The exchange will issue a separate notice once the network upgrade is complete and the system is stable.

Q2: Will my SCR funds be safe during the suspension?
A: Yes. Your SCR holdings on Bithumb remain secure during the suspension. The halt only affects deposits and withdrawals, not the storage of existing funds.

Q3: Can I still trade SCR on Bithumb during the suspension?
A: Bithumb has not explicitly stated whether spot trading will continue. It is advisable to check the exchange’s trading interface or official announcements for clarity on trading availability during the upgrade.

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