Upbeat resumes Ethereum

2020-01-13 17:31:11

Normalize service after major strengthening of security system

Upbit, a major domestic cryptocurrency exchange, resumes its Ethereum deposit and withdrawal service.

It is about two months after the company took a major step in strengthening its security system after taking over 58 billion won of Ethereum in November last year.

Earlier, Upbit immediately stopped the deposit and withdrawal service for all cryptocurrencies.

Since December 4, it has supported only bitcoin deposits and withdrawals, and since 9th this month, it has started to support deposit and withdrawals for Litecoin, Ripple, and EOS.

The rest of the cryptocurrency deposit and withdrawal services will also be released sequentially, which is normalizing transaction services.

Upbit announced on the 13th that it will resume the withdrawal of Ethereum from 6 pm on the day.

With the renewal of the Ethereum deposit and withdrawal, the existing Ethereum deposit address will be deleted.

In order to use Ethereum deposit and withdrawal, you will need to obtain a new address.

To get a new Ethereum address, proceed to ‘Upbit Login → Withdrawal → Select ETH → Select the right deposit address tab → Click Create deposit address’.

Upbit said, "Please delete the existing ETH deposit address registered on the personal wallet or other exchanges and never use it."

Meanwhile, Upbit recently released its due diligence report on cryptocurrency and deposits, and recovered 340,000 Ethereum, the amount of Ethereum stolen, to recover 100%.

According to the due diligence report, Upbeat currently owns 100.83% and 144.45% of cryptocurrencies and deposits, respectively, compared to assets entrusted by users.