- The temporary halt is expected to last only an hour.
- The halt is related to tomorrow’s Ethereum Shapella upgrade.
- The tokens affected are primarily ERC-20 tokens.
OKX, a cryptocurrency exchange based in Seychelles has announced that it will suspend deposits and withdrawals for ETH, ARBs, OP and ERC-20 tokens temporarily due to the upcoming Ethereum Shapella upgrade.
Shapella upgrades are scheduled to occur on April 12th at approximately 10:27 PM (UTC).
Temporary withdrawal and deposit halt
OKX announced that withdrawals and deposits will be temporarily suspended by the crypto exchange during the Shapella upgrade. This suspension will take place for around one hour at 9:30 PM UTC on April 12, 2023. The suspension will continue until the Shapella upgrade.
Wanchain, OKX Interoperability platform Wanchain stated that WanBridge frontend will be temporarily unavailable starting at 10 p.m. UTC on April 12. Binance will suspend all withdrawals or deposits of ETH, OP and ARB tokens via the Ethereum Optimism and Arbitrum networks.
Upgrade Ethereum Shapella
“Shapella” is a derived upgrade name (Shanghai + Capella) to suggest two layers of the blockchain are being upgraded simultaneously. This is the first Ethereum network upgrade after The Merge.
The Shanghai upgrade will make changes to Execution Layer, while the Capella upgrade will make some changes to Consensus Layer. EIP 4895 will be installed on Execution Clients to enable withdrawal of staked Ethereum for validators.
