Woofun AI reports that South Korean exchange Upbit has initiated a temporary freeze on Cardano (ADA) deposits and withdrawals, a precautionary measure enacted ahead of a critical hard fork on the blockchain network.

The operational halt takes effect on July 18 at 2:00 p.m. UTC, restricting inbound and outbound fund movements while maintaining liquidity within the platform’s order books. Users retain the ability to execute trades during this window, but external transfers are blocked to prevent discrepancies during the transition.

Structurally, hard forks introduce significant protocol changes that can trigger chain splits or transaction processing delays. By suspending external movements, Upbit mitigates risks associated with unconfirmed or mismatched transactions, ensuring asset security remains intact throughout the upgrade process.

Input Output Global (IOG), the developer behind Cardano, drives this upgrade as part of a roadmap focused on scalability, interoperability, and sustainability. Per Woofun AI, the organization emphasizes peer-reviewed research, with this specific update likely enhancing governance features and smart contract capabilities.

Cardano ranks among the top ten cryptocurrencies by market capitalization, operating within South Korea’s strict regulatory environment and high retail trading volume. Holders must ensure any pending transfers to external wallets or other platforms are completed before the cutoff time, as funds will remain locked on the exchange.

The suspension duration remains undefined, dependent on when network stability is confirmed. Traders should monitor for further updates from Upbit, which will resume full services only after the new chain is fully operational and all pending transactions are resolved.