Upbit Suspends SEI Deposits and Withdrawals for Network Upgrade

Cryptocurrency exchange Upbit has announced a temporary halt to SEI token deposits and withdrawals, effective June 10th at 09:00 UTC. This suspension is part of the platform’s preparation for an upcoming upgrade to the SEI network. The update aims to enhance security features, improve transaction speed and efficiency, and introduce new functionalities. While trading on Upbit will typically remain unaffected, users are advised to plan any transfers around this date accordingly. The company emphasizes that this suspension is a necessary precautionary measure to protect user funds during the upgrade process and ensure compatibility with the updated SEI network.