Upbit will suspend digital asset deposits and withdrawals of more than 1 million Korean won between Upbit and BitMEX.

PANews October 16 news: According to an official Upbit announcement, because BitMEX has terminated its integration with the Travel Rule solution VerifyVASP, Upbit has suspended digital asset deposits and withdrawals of KRW 1 million and above with BitMEX starting October 16, while deposits below KRW 1 million continue to be supported as usual. The announcement shows that Upbit withdrawals to BitMEX were already suspended on September 23, and withdrawals via OpenAPI are not supported. Manual deposits from BitMEX to Upbit of more than KRW 1 million will stop starting December 18 at 14:00, after which assets of the same type credited thereafter will enter the return process, and users need to retrieve them according to the return procedure.