South Korean crypto exchange Upbit said on Aug. 31 that it has temporarily suspended deposit and withdrawal services for assets running on the Ontology network while the network undergoes maintenance checks. The affected assets are Ontology (ONT), Ontology Gas (ONG) and MovieBloc (MBL). The suspension took effect from the time of the notice and will remain in place until Upbit confirms that deposits and withdrawals on the relevant network are safe to resume, with a separate notice to announce the restart time. Upbit said spot trading for the affected assets will continue as normal during the suspension. Still, user deposits, withdrawal address registration and refund processing for those assets have all been paused. The exchange also warned that deposits sent to Upbit during the suspension may fail to arrive properly and could, in some cases, become unrecoverable.

The week of Aug. 17-23 is packed with events that could draw close attention from crypto traders, policymakers, and market infrastructure operators. On Aug. 19, President Donald Trump is expected to attend a White House gathering of crypto and prediction-market executives, with CEOs from Coinbase, Ripple, Gemini, Robinhood, Polymarket, and Kalshi also set to join, according to CoinDesk. The event is expected to warm up the first formal meeting of the U.S. Commodity Futures Trading Commission’s newly formed Innovation Advisory Committee. A day later, the Federal Reserve will release minutes from its July policy meeting, where the Federal Open Market Committee voted 9-3 to keep the federal funds rate at 3.5% to 3.75%. Markets will be looking for clues on how many officials saw a case for a rate hike and what evidence could shift the broader committee. Elsewhere, South Korea will roll out tighter rules for single-stock leveraged products and expand review standards for crypto operator registration. The same week also includes a series of exchange and network updates, including Binance delistings and precision changes, Coinbase product launches and support changes, Upbit service suspensions, a planned bitcoin eCash hard fork, and Manus data migration steps tied to its return as an independent company.

BlockBeats reported on August 12 that Upbit has issued an official notice regarding a temporary suspension of deposit and withdrawal services. Citing the Ontology network upgrade, the exchange will halt these services starting at 23:00 Korea Standard Time on August 20, 2026. The suspension covers digital assets operating on the Ontology network, specifically Ontology (ONT), Ontology Gas (ONG), and MovieBloc (MBL). While deposits and withdrawals are paused, trading for these assets will continue unaffected. Upbit stated that after the network upgrade is completed and stability is validated, it will notify users through a separate announcement when normal deposit and withdrawal operations resume.

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