Upbit Pauses ENJ Deposits and Withdrawals for May 18 Network Upgrade

SEOUL — South Korean exchange Upbit will suspend Enjin Coin (ENJ) deposits and withdrawals on May 18 at 11:00 a.m. UTC to accommodate a scheduled upgrade on the Enjin blockchain, according to a notice posted by the exchange.

Per the notice, the suspension applies to all ENJ deposit and withdrawal services. Upbit did not specify a resumption time. The exchange said services will return after the upgrade is verified as stable.

ENJ spot trading on the platform is expected to continue during the maintenance window. Upbit advised users to confirm trading status against the official announcement on its site.

The halt window is tied to a protocol change on the Enjin network. Such upgrades typically introduce adjustments to scalability, security or feature sets, and exchanges pause transfers to prevent transaction errors during the switchover.

Upbit is the largest cryptocurrency exchange in South Korea by volume. Maintenance halts of this kind have historically lasted from a few hours to roughly a day, the exchange said in its notice.

The filing said balances held on Upbit will not be affected during the pause. Users were advised to complete any pending ENJ transfers before the 11:00 a.m. UTC cutoff to avoid delays.

The exchange flagged three operating points for holders. First, ENJ balances on Upbit remain intact and accessible for trading. Second, only deposit and withdrawal rails are affected. Third, no further changes to ENJ services on the platform are planned at this time.

Network upgrades involving exchange wallets are routine across the sector. Listed venues must synchronize their internal wallet infrastructure with the live protocol to avoid compatibility breaks, including incorrect address parsing or stranded transactions. Failures to do so have, in past cases on other networks, led to delayed credits and frozen withdrawals lasting more than 24 hours.

For active traders, the timing of the pause carries operational weight. Users who rely on quick transfers between venues for arbitrage, or who plan to move ENJ into self-custody for staking or governance participation, will need to finalize those moves before the cutoff. Anyone planning to deposit ENJ to Upbit should also complete those transactions ahead of the suspension window.

Upbit did not provide an estimated duration in its filing. The exchange said it will publish a resumption notice through its official communication channels once the upgrade is complete and network stability has been confirmed.

What it means: The halt is a standard maintenance step, not a market event. Short-term liquidity for ENJ on Upbit will tighten only on the transfer side, while spot trading carries on. The episode is a reminder of the operational tether between centralized exchange users and the maintenance calendars of the venues they use, particularly for tokens whose underlying chains push frequent runtime updates.