Woofun AI reports that Upbit has initiated a temporary freeze on POLYX deposits and withdrawals to accommodate a scheduled network upgrade on the Polymesh blockchain. This operational pause ensures the integrity of the underlying infrastructure while maintenance procedures are executed.

The suspension takes effect precisely at 3:10 a.m. UTC on July 22. No definitive end time has been established; instead, service restoration is contingent upon the successful completion of the upgrade and the subsequent stabilization of the network. Users must await official confirmation before expecting normal functionality.

Notably, the restriction applies exclusively to inbound and outbound fund movements. Spot market trading for POLYX remains active and continues as normal during this window, allowing users to execute trades without interruption despite the inability to transfer assets off-platform.

Per Woofun AI, the Polymesh blockchain is specialized for regulated security tokens, requiring rigorous maintenance to address scalability demands and patch potential security vulnerabilities. These upgrades are critical for maintaining the protocol’s compliance and technical robustness, even if they necessitate temporary access restrictions.

Users holding POLYX on Upbit are advised to refrain from attempting transfers to external wallets or other exchanges during the halt. As one of the largest cryptocurrency exchanges globally, Upbit’s proactive communication aims to preserve user trust by preventing transaction failures and ensuring clear expectations regarding asset accessibility.