Upbit Halts MON Transfers for Monad Upgrade on July 23

Woofun AI reports that Upbit has initiated a temporary suspension of MON deposit and withdrawal services to facilitate a critical network upgrade on the Monad blockchain.

The operational halt is scheduled to commence at 11:00 a.m. UTC on July 23, encompassing all MON deposit and withdrawal services. No specific end time has been disclosed; instead, service resumption is contingent upon the completion of the upgrade and verification of the Monad blockchain's stability.

Structurally, this pause addresses technical requirements inherent to the Monad protocol. The upgrade aims to enhance performance, scalability, and security features, necessitating a transaction freeze to ensure compatibility with the underlying protocol and prevent potential loss of funds during the transition.

Woofun AI data shows that while trading continues, asset mobility is restricted. Users intending to transfer MON to external wallets, decentralized applications, or other platforms must execute these transactions before the 11:00 a.m. UTC cutoff on July 23. Similarly, deposits into Upbit accounts must be finalized ahead of this deadline to avoid processing delays.

MON spot trading pairs remain unaffected, as the suspension is strictly limited to deposit and withdrawal functions. This routine operational measure reflects standard risk management practices designed to safeguard user funds during protocol changes, with a resumption notice expected once stability is confirmed.