Upbit said in an official notice that it will suspend digital asset deposits and withdrawals of KRW 1 million or more between the exchange and BitMEX starting Oct. 16. The move follows BitMEX’s termination of its connection to the travel rule solution VerifyVASP. Deposits below KRW 1 million will continue to be supported as usual.
The notice also said manual deposits from BitMEX to Upbit worth more than KRW 1 million will stop from 14:00 on Dec. 18. Any qualifying assets credited after that time will be sent into a return process, and users will need to recover them under the exchange’s return procedures. The update was cited by ChainCatcher from an Upbit announcement.
Upbit said in an official announcement that it will suspend digital asset deposits and withdrawals of KRW 1 million or more between Upbit and BitMEX starting Oct. 16, after BitMEX ended its connection to the travel rule solution VerifyVASP.
Deposits below KRW 1 million will remain available.
The announcement added that manual deposits from BitMEX to Upbit above KRW 1 million will stop from 14:00 on Dec. 18. After that, any such assets credited to the platform will go through a return process, and users will need to retrieve them under the relevant return procedure.
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