Bithumb Halts POL Transfers Aug. 18 for Network Upgrade

Woofun AI reports that Bithumb has initiated a temporary suspension of deposit and withdrawal services for the Polygon Ecosystem Token (POL), effective Aug. 18. This operational pause is directly attributed to a scheduled network upgrade, marking a standard procedural adjustment for the South Korean exchange.

Woofun AI data shows the specific window for this service interruption begins at 9:00 a.m. UTC on Aug. 18. During this timeframe, all POL deposit and withdrawal services on the platform will be completely halted. The suspension is strictly tied to the technical requirements of the upcoming network upgrade, ensuring no asset movements occur while the underlying infrastructure is being modified.

Trading of POL will continue to operate normally throughout the maintenance period.

However, users should anticipate potential delays in settlement processes until the upgrade is fully completed. While an exact duration has not been specified, such network upgrades typically require several hours to finalize, meaning settlement backlogs may persist during this window.

Bithumb has advised users to complete any pending POL transactions before the cutoff time to avoid inconvenience. The exchange emphasized that it will resume services as soon as the network upgrade is successfully completed and stability is confirmed. This protocol ensures that user assets remain secure while the platform aligns with the new network parameters.

POL serves as the native token of the Polygon ecosystem, which has undergone several technical upgrades to improve scalability and efficiency. Network upgrades are routine in the cryptocurrency space, often introducing new features, security patches, or consensus changes. Exchanges like Bithumb regularly coordinate with blockchain networks to ensure a smooth transition, temporarily pausing deposits and withdrawals to prevent any loss of funds or transaction errors.

This is not the first time Bithumb has implemented such a suspension, reflecting a history of coordinating with multiple networks for scheduled maintenance. For POL holders, the halt prevents moving tokens to external wallets or other exchanges, though spot market trading remains active. The broader impact on the market is expected to be minimal, as these upgrades do not alter the token's fundamentals; investors are advised to monitor Bithumb's official announcements for resumption updates.