The South Korean cryptocurrency exchange Upbit, popular among arbitrageurs, has warned of a temporary suspension of STX token deposit and withdrawal services due to problems with the Stacks network. This is due to a delay in the creation of blocks on the Stacks blockchain network (Bitcoin L2), which made transactions unstable.
Later, Upbit added that STX deposits and withdrawals have been restored after confirming the network’s stability.
However, deposits and withdrawals of REI tokens have now been suspended due to an interruption in block generation on the REI Network. This is due to the network upgrade. Operations with REI have also been suspended Binance, Huobi (HTX) and BigONE.
This decision was made to support the hard fork and ensure network stability during the upgrade. The network upgrade includes the introduction of new security mechanisms, including the Jail Mechanism, which automatically suspends validators that violate network rules, for example, skip blocks or try to fork the network
It is expected that deposits and withdrawals will be restored after the upgrade is completed and the network is stabilized.
Source: Upbit