Upbit, a cryptocurrency exchange in South Korea, will temporarily stop accepting and sending Cosmos (ATOM) from May 20th to allow for a network improvement.
Summary
- The suspension begins at 6:00 a.m. UTC on May 20 and will remain until the Cosmos network upgrade completes and stability is confirmed.
- ATOM trading on Upbit is expected to continue as normal throughout the suspension window.
- Exchanges routinely pause transfers during chain upgrades to prevent transaction failures caused by version mismatches between nodes.
Upbit has temporarily stopped all services starting at 6:00 a.m. UTC on May 20th. They haven’t said when things will be back to normal, but service will resume after the Cosmos network upgrade is finished and the blockchain is stable. Your ATOM holdings on Upbit are safe and unaffected by this pause.
Trading of ATOM on Upbit will continue even during the scheduled maintenance. You’ll still be able to buy and sell ATOM with both fiat currencies and other cryptocurrencies. However, you won’t be able to deposit or withdraw ATOM during this time. If you need to transfer your ATOM, please do so before May 20th.
Why transfers pause during chain upgrades
It’s common for exchanges to temporarily stop deposits and withdrawals when they’re updating their systems. This prevents problems that can occur when the exchange’s software is out of sync with users’ wallets. If they aren’t updated together, transactions might not process correctly, potentially leading to lost or delayed funds.
Stopping transfers keeps your funds safe until the exchange is fully updated and confirmed to work with the new network.
This pause comes at a challenging time for the Cosmos network. Back in January, Christopher Goes, a co-founder of Anoma, expressed concerns that Cosmos might be failing, pointing to rising costs and several important projects leaving the network.
Osmosis suggested changing its OSMO token into ATOM and working more closely with the Cosmos Hub to combine trading activity and decision-making power. Upbit, the biggest cryptocurrency exchange in South Korea, often causes prices of listed tokens to quickly rise or fall based on whether it decides to support them.
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2026-05-14 21:17