Gopax deposits suspended… Upbit announces possibility of withdrawal restrictions

Gopax suspended crypto deposits on its platform as of 2:55 p.m. local time on the 6th, citing user asset protection and strengthened security, prompting Upbit and Bithumb to warn users about transfers to the exchange. Upbit said it confirmed Gopax's deposit, withdrawal, and trading services were temporarily halted and may restrict withdrawals to Gopax if needed for user protection, while Bithumb cautioned that assets sent to Gopax may not be properly credited to user accounts. The disruption at Gopax, one of South Korea's smaller won-market exchanges, matters because inter-exchange transfers are a core route for Korean traders moving assets between venues. Watch for whether Upbit formally imposes Gopax-bound withdrawal limits and when Gopax restores deposit and trading services.