IOTA Deposits and Withdrawals Paused on OKEx. Here's Why It's a Nothing Burger

News
Wed, 01/23/2019 - 14:37
article image
Alex Dovbnya
The exchange cautioned users about the suspension, which will last until IOTA’s client upgrade will be fully completed
IOTA Deposits and Withdrawals Paused on OKEx. Here's Why It's a Nothing Burger
Cover image via U.Today
Contents

OKEx, the second largest exchange by trading volume, is suspending the deposits and withdrawals of IOTA (MIOTA). Luckily, there is no reason to fret about it – the pause was simply caused by IOTA’s upcoming client upgrade.

No need to worry

Some customers might be worried that their deposited tokens will turn out to be lost and non-retrievable due to the suspension. The exchange ensures its customers that all IOTA deposits will be credited once the above-mentioned upgrade is completed. The exact time when transactions will be resumed is not specified.

Related Traders Require Compensation After OKEx Closed BCH Futures, Promising to No Longer Work with the Exchange
Related
Traders Require Compensation After OKEx Closed BCH Futures, Promising to No Longer Work with the Exchange


OKEx previously paused IOTA deposits and withdrawals in June 2018 due to maintenance on synchronization nodes.  

IOTA’s on a roll  

Despite the inconveniences, IOTA has had a remarkable week. On Monday, the leading Blockchain 3.0 project teamed up with a leader in VR gaming. On top of that, IOTA’s penchant for working on real-world use cases was recently praised by Taiwanese ‘Crypto Congressman’ Jason Hsu.   

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.