Upbit Suspends Transactions Amid Security Inspection

South Korea-based cryptocurrency exchange Upbit has announced an unexpected emergency inspection that has halted all deposits and withdrawals. The action, initiated at 11:55 p.m. UTC on November 26, impacts millions of users worldwide. While the exact trigger for the urgent inspection remains undisclosed, exchanges typically undertake such measures to address potential security vulnerabilities, update protocols, or investigate suspicious activities. This proactive approach underscores Upbit’s commitment to safeguarding user assets, although it also creates temporary disruptions for traders.