A suspension of deposit and withdrawal services may arise due to various factors, including mainnet upgrades, wallet maintenance or upgrades, and hard forks. The timeline for service restoration will vary depending on the circumstances. We kindly ask for your patience during this period, or you may reach out to the project team for further assistance. The following are among the typical reasons for a suspension of deposit and withdrawal services :
1. Wallet maintenance/upgrade (Deposit/withdrawal suspension)
Regarding wallet maintenance/upgrades, we will notify users of the expected resumption time for our proprietary wallet. For third-party wallets, we will maintain ongoing communication and reinstate services promptly upon completion of the upgrade.
- Why does a wallet need maintenance/upgrade ? Enhancing and maintaining our wallet is crucial to delivering enhanced service and ensuring the security of our users' assets. Upgrades bring new functionalities and enhance existing ones, while maintenance addresses technical issues and includes asset audits.
- If I encounter this situation, what should I do ? We encourage you to closely follow our latest announcements for updates regarding wallet maintenance/upgrades. Staying informed will enable you to promptly resume operations at your earliest convenience.
2. Blockchain mainnet upgrade/maintenance (Deposit/withdrawal suspension)
The official announcement from the project team serves as the primary source of information regarding the completion time of a blockchain mainnet upgrade or maintenance.
- What's a mainnet ? The mainnet represents a fully operational and deployed blockchain network, distinct from a testnet. It serves as a public blockchain infrastructure where consensus among community members is required for transaction execution. Once launched, the mainnet becomes accessible worldwide for developers to utilize and build upon.
- What's a mainnet upgrade ? A mainnet upgrade is essential to advance a project's development. This update will enhance capabilities by increasing processing power, lowering gas fees, and improving network performance. Furthermore, ongoing maintenance will address any existing technical issues to ensure smooth operation.
- If I encounter this situation, what should I do ? We will closely monitor the upgrade/maintenance process and resume our services promptly upon its completion. Please stay tuned to our announcements for the latest status updates.
3. Specific cryptocurrency is delisted (Deposit suspension)
We are dedicated to protecting users' interests and ensuring the sustainability of the industry. Accordingly, we will conduct regular comprehensive audits on project teams, operations, token transactions, and technology. Tokens or cryptocurrencies that do not meet our stringent standards will be delisted, and deposit services will be disabled accordingly.
- If I encounter this situation, what should I do ? If you hold crypto that has been delisted from our platform, we advise you to withdraw it promptly as it is no longer available for trading on our platform.
4. Mainnet migration (Deposit/withdrawal suspension)
The project team manages the mainnet migration process. Once completed, an announcement will be posted on the website for your reference.
- What's a mainnet migration ? Many blockchain projects initially choose to reside on an existing public blockchain while in incubation, often issuing an ERC20 token using Ethereum smart contracts. These projects typically migrate to their native mainnet once it is fully developed and ready for deployment.
- Why do projects need to migrate ? A successful mainnet launch is crucial for the maturation of a project, enabling developers to utilize and build upon it. This often entails a token swap, where old tokens are exchanged for new ones and subsequently burned. Therefore, mainnet migration stands as a top priority for most projects.
- If I encounter this situation, what should I do ? We will closely monitor the upgrade and maintenance process. Once completed, we will promptly resume our services. Please stay tuned to our announcements for the latest status updates.
5. Node upgrade (Deposit/withdrawal suspension)
The community and project team collaborate in upgrading the Node. Once the upgrade is complete, please refer to the project team's official announcement for further details.
- What's a node ? A blockchain node refers to any device connected to the blockchain network. This could encompass smartphones, ASICs, servers, and other types of hardware. The specific definition of a node can vary based on the design and configuration of the particular blockchain. In the Bitcoin network, for instance, a node typically downloads the entire blockchain, verifies transactions, and participates in the process of mining new blocks. However, in the current landscape of the Bitcoin network, nodes can also include full nodes, light nodes, and even regular users who participate in the network's operations.
- What's a node upgrade ? Upgrading the software of nodes, also referred to as client software, constitutes a blockchain upgrade, which typically does not involve altering the existing ledger. Since public blockchains operate in a decentralized manner, upgrading nodes is not mandatory. Node upgrades typically follow a mainnet upgrade process.
- If I encounter this situation, what should I do ? We will closely monitor the upgrade and maintenance process. Once completed, we will promptly resume our services. Please stay tuned to our announcements for the latest status updates.
6. Network upgrade (Deposit/withdrawal suspension)
The project team manages the mainnet migration process. Upon completion, an announcement will be posted on the website for your reference.
- If I encounter this situation, what should I do ? We will closely monitor the upgrade and maintenance process. Once completed, we will promptly resume our services. Please stay tuned to our announcements for the latest status updates.
7. Hard fork (Deposit/withdrawal suspension)
A hard fork is a contentious blockchain upgrade that must be finalized before services can resume. Once the hard fork is successfully completed, we will promptly resume operations without delay.
- What's forking ? A fork in a blockchain occurs when there is disagreement within the community regarding an upgrade, resulting in the original blockchain splitting into two separate chains. There are two main types of forks depending on the compatibility of the new chain with the old one: soft forks and hard forks.
Soft Fork: A soft fork is a type of blockchain fork where the newly forked blockchain remains compatible with the original one. In this case, old nodes can still process blocks mined by new nodes, even though the blockchain's code has been updated due to the upgrade. Nodes on the network can continue to operate on the same chain, even if they do not verify or process certain new blocks.
Hard Fork: A hard fork occurs when the newly forked chain is not compatible with the original one. This means that nodes running the old software will reject blocks generated by nodes running the new software. Blocks that do not comply with the original protocol are ignored, and miners must adhere to the old protocol's rules before they can mine new blocks on the new chain.
In summary, a soft fork maintains compatibility with the original blockchain, while a hard fork results in the creation of a new chain that is incompatible with the old one, requiring nodes and miners to choose between the two paths.
- If I encounter this situation, what should I do? We recommend that you closely follow our latest announcements for updates on the status of the hard fork. Staying informed will help you resume operations as soon as possible.
8. During token swap (Deposit/withdrawal suspension)
Upon the mainnet going live, we will facilitate the project's token swap and subsequently resume deposit and withdrawal services upon its completion.
- What's token swap ? The development team of a blockchain project may issue an ERC20 token via an Ethereum smart contract before launching its mainnet. Once the mainnet is live, holders of the ERC20 token can exchange them for the mainnet token at a 1:1 ratio.
- Why is token swap needed ? A token swap is designed to enable users to exchange their ERC20 tokens for the mainnet tokens. Once the token swap process is completed, the original ERC20 tokens will be burned or otherwise rendered unusable.
- If I encounter this situation, what should I do ? We recommend that you closely follow our latest announcements for updates on the status of the hard fork. Staying informed will help you resume operations as soon as possible.
9 . During airdrop snapshot (Deposit/withdrawal suspension)
To maintain fairness and uphold integrity, deposits and withdrawals will be temporarily suspended during the airdrop snapshot. Service will resume immediately afterward.
- What's an airdrop snapshot ? A snapshot is taken to ensure that users who meet the requirements of the airdrop will receive a proportional amount of free tokens based on the amount of tokens they possess or the transactions they fulfill.
- If I encounter this situation, what should I do ? We recommend that you closely follow our latest announcements for updates on the status of the hard fork. Staying informed will help you resume operations as soon as possible.
10. Issues occur from the project side (Deposit/withdrawal suspension)
Due to the discovery of a technical bug, operational difficulty, and security issue caused by a third-party, deposit and withdrawal services have been suspended. The exact time for service resumption is currently unpredictable.
- If I encounter this situation, what should I do ? We recommend that you closely follow our latest announcements for updates on the status of service resumption. Staying informed will help you resume operations as soon as possible. For further assistance, please feel free to reach out to the project's support team.
11. Projects ceasing operation (Deposit/withdrawal suspension)
In the event that a project ceases operations due to operational or financial difficulties, we will suspend or close the deposit and withdrawal of its token.
- If I encounter this situation, what should I do ? If you require any assistance regarding the cessation of operations, please contact the project's support team.
12. Project's security concerns (Deposit/withdrawal suspension)
In the event that a project poses potential risks due to technical bugs or operational difficulties, we will suspend deposit and withdrawal services until the project team resolves the security concerns to mitigate potential losses for our users.
- If I encounter this situation, what should I do ? We recommend that you closely monitor our latest announcements for updates on the status of service resumption. Staying informed will help you promptly resume operations. If you require further assistance, please do not hesitate to contact the project's support team.
13. Project's node connection difficulty (Deposit/withdrawal suspension)
Due to maintenance of the nodes in the project's network, deposits and withdrawals have been temporarily suspended. As this issue is caused by a third party, the exact time for service resumption is currently unpredictable.
- If I encounter this situation, what should I do ? We recommend that you closely follow our latest announcements for updates on the status of service resumption. Staying informed will help you resume operations as soon as possible. For further assistance, please feel free to contact the project's support team.