Essential maintenance on Bithumb has halted Pocket Network transactions.

crypthub

about 9 hours ago

Suspension Overview

On March 15 2025 Bithumb halted all POKT deposits and withdrawals, citing system maintenance and security upgrades. The exchange gave no timeline for resuming services, though trading of POKT against other assets continued. The pause coincided with Pocket Network’s upcoming v1.8.0 protocol upgrade, a typical trigger for exchange‑level safeguards.

Pocket Network Architecture

Pocket Network is a decentralized middleware that links applications to over 50 blockchains via a distributed node system. POKT tokens reward node operators, fund governance, and pay for data‑relay services. Its unique proof‑of‑stake consensus and custom transaction format require specialized wallet and exchange integration.

Market Reaction and History

POKT accounts for roughly 18 % of its global volume on Bithumb, and the suspension caused a brief 3.2 % price dip before stabilizing. Traders shifted to other platforms such as Gate.io and KuCoin, where services remained active. Similar temporary halts have occurred at Bithumb before, e.g., for XRP in 2021 and MATIC in 2023, and usually resolve within 24‑72 hours.

Security, Regulation, and Outlook

The suspension allows Bithumb to apply patches, test wallet interactions, and meet South Korea’s strict Virtual Asset User Protection Act requirements. With a strong security record and multi‑signature cold storage, the exchange prioritizes fund safety over convenience. Future Pocket Network upgrades are expected, so comparable maintenance windows may recur across exchanges.