Bithumb Temporarily Halts FLOW Transactions: What You Need to Know

Introduction to the Situation

Bithumb, one of South Korea’s most prominent cryptocurrency exchanges, has recently announced a temporary suspension of deposit and withdrawal services for the cryptocurrency Flow (FLOW). This decision was made in response to ongoing issues with the Flow network, which have resulted in a failure to produce blocks. The suspension went into effect on Tuesday, February 18, 2025, at 20:00. This interruption is a precautionary measure to protect users and ensure the stability of transactions on the platform. Bithumb has assured its users that the suspension is temporary and that services will resume once the Flow network stabilizes.

Details of the Suspension

The temporary suspension specifically affects Flow (FLOW) transactions on the Bithumb platform. This means that users will not be able to deposit or withdraw FLOW during this period. The root cause of the issue lies within the Flow network itself, where a system failure has led to a block creation problem. As a result, the network is currently unable to process transactions reliably. Bithumb has emphasized that this decision was necessary to prevent any potential losses or disruptions for its users. The exchange will continue to monitor the situation closely and provide updates as the situation develops.

Restart Timeline and Network Recovery

Bithumb has confirmed that the resumption of FLOW deposits and withdrawals is entirely dependent on the restoration of the Flow network’s stability. While the exchange has not provided an exact timeline for when services will be restored, it has pledged to inform users as soon as the network is operational again. The recovery time may vary depending on the network’s conditions and the speed at which blocks are generated once the issue is resolved. Users are advised to keep an eye on official announcements from Bithumb for the latest updates regarding the status of FLOW transactions.

Important Notices for Users

During this period, there are several key points that users should be aware of to ensure a smooth experience. First, any withdrawal requests that were submitted before the suspension but were not processed will be reviewed and handled in sequence once the service resumes. This means that users do not need to resubmit their withdrawal requests, as they will be processed automatically once the network is stable. Additionally, any assets deposited after the suspension will only be reflected in users’ accounts once the service is restored. Trading activities on the Bithumb platform will continue uninterrupted during this period, but users are cautioned to be aware of potential price volatility in the FLOW market.

Assurance from Bithumb

Bithumb has reiterated its commitment to transparency and user safety throughout this process. The exchange is actively monitoring the situation and is in close communication with the Flow network team to resolve the issue as quickly as possible. Users can rest assured that their assets are secure and that Bithumb is taking all necessary precautions to minimize any inconvenience caused by this temporary suspension. The exchange has also reminded users that this is not a recommendation or advice on investment decisions, but rather a necessary step to ensure the integrity of its services.

Conclusion and Next Steps

In conclusion, Bithumb’s temporary suspension of FLOW deposits and withdrawals is a proactive measure to address the underlying issues with the Flow network. While this may cause some inconvenience for users, it is a necessary step to maintain the reliability and security of transactions on the platform. Users are advised to stay informed through official updates from Bithumb and to exercise caution when trading FLOW during this period. Once the network stabilizes, Bithumb will promptly restore deposit and withdrawal services, and users can expect a seamless resumption of their FLOW-related activities.