Bithumb Halts ZeroG (0G) Deposits/Withdrawals Over Blockchain Network Issues
South Korea’s major exchange Bithumb has halted all ZeroG (0G) deposits and withdrawals after “network issues” were identified on the ZeroG blockchain. The suspension blocks traders from transferring 0G onto or off the platform, as Bithumb said it is protecting user funds during transaction validation instability.
Bithumb added that spot trading remains available on-platform, with 0G still tradable against KRW and other listed assets via the exchange’s internal ledger. No specific restart time has been given; deposits and withdrawals will resume only after Bithumb verifies full ZeroG network stability and security.
For traders, the immediate impact is operational rather than fundamental: cross-venue arbitrage and plans to move 0G to private wallets may be delayed. The later update notes 0G’s market price appears relatively steady versus KRW and BTC, suggesting the market is treating the event as a temporary infrastructure disruption. Bithumb says it is monitoring the network and coordinating with ZeroG engineers, and it will push updates through its website, app notifications, social media, and email alerts.
Key risk to watch is duration. If the ZeroG deposit/withdrawal pause extends beyond the typical 24–48 hour window seen in similar incidents, liquidity and rebalancing could tighten and trigger short-term volatility around 0G trading pairs.
Neutral
This news is neutral for the 0G price itself because it targets deposits and withdrawals only, while spot trading remains open. The later update suggests limited immediate market dislocation: 0G reportedly holds relatively steady versus KRW and BTC, implying traders view the issue as temporary infrastructure instability rather than a change in ZeroG’s fundamentals.
However, the operational constraint can still become price-relevant if it lasts longer than typical chain-related pauses. Extended deposit/withdrawal shutdowns can reduce accessible float at exchanges, impair cross-venue arbitrage, and narrow liquidity for 0G trading pairs—conditions that can amplify intraday volatility. In the longer run, sustained network failures or repeated exchange interventions could hurt sentiment, but the articles frame the current step as a protective risk-management action pending ZeroG fixes.