Why is my deposit/withdrawal suspended?

Published on Nov 30, 2023Updated on Jun 3, 202410 min read

A deposit/withdrawal suspension can be caused by a variety of factors, such as a mainnet upgrade, wallet maintenance/upgrade, or a hard fork. The timeline for resuming service will depend on the situation, so please be patient or contact the project team for assistance. Below are some of the common reasons for a deposit/withdrawal suspension:

Wallet maintenance/upgrade (Deposit/withdrawal suspension)

For wallet maintenance/upgrades, OKX TR will state the resume time for their own wallet. For third party wallets, OKX TR will stay in close contact and resume service as soon as the upgrade is complete.

  • Why does a wallet need maintenance/upgrade? Upgrading and maintaining a wallet is essential in order to provide better service and asset security to our users. Upgrades introduce new features and optimise existing ones, while maintenance involves fixing technical bugs and conducting asset audits.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status of wallet maintenance/upgrades, so you can stay informed and resume operations as soon as possible.

Blockchain mainnet upgrade/maintenance (Deposit/withdrawal suspension)

The official announcement from the project team is the main source of information regarding the completion time of a blockchain mainnet upgrade/maintenance.

  • What is a mainnet? Mainnet is a fully deployed and operational blockchain network, in contrast to a test net. This public blockchain infrastructure requires a consensus among the community before a transaction can be executed. When the mainnet goes live, the infrastructure is accessible to developers everywhere to use and build on.

  • What is a mainnet upgrade? Mainnet upgrade is necessary, in order to facilitate a project's development. This upgrade will bring about advantages such as increased processing power, reduced gas fees, and improved network performance. Additionally, any existing technical bugs will be resolved with maintenance.

  • If I encounter this situation, what should I do? We at OKX TR will be keeping a close eye on the upgrade/maintenance process. Upon completion, we will resume our service immediately. Please stay tuned to OKX TR's announcements for the most up-to-date status reports. If OKX TR states "Deposit and Withdrawal will resume immediately after system upgrade" in the latest announcement, there will not be further announcements. Please follow the project team's official announcement, or retry deposit/withdrawal on OKX TR.

Specific cryptocurrency is delisted (Deposit suspension)

OKX TR is committed to safeguarding users' interests and maintaining the longevity of the industry. As such, we will regularly conduct thorough audits on project teams, operations, token transactions, and technology. Any tokens/crypto that fail to meet our standards will be delisted, and deposits will be disabled.

  • If I encounter this situation, what should I do? If you have crypto that has been delisted from OKX TR in your account, we recommend you to withdraw it as soon as possible since it's no longer tradable on OKX TR.

Mainnet migration (Deposit/withdrawal suspension)

The project team takes care of mainnet migration. Once it's completed, there will be an announcement on the website that you can refer to.

  • What is a mainnet migration? Many blockchain projects select an existing public blockchain to reside on while they are in incubation, such as issuing an ERC20 token with Ethereum smart contract. These projects will then migrate to their native mainnet when it's ready.

  • Why do projects need to migrate? A successful mainnet launch is essential for a project to mature and allow developers to use and build upon it. This process often involves a token swap, whereby the old tokens are exchanged for the new ones and burned. Consequently, mainnet migration is a high priority for most projects.

  • If I encounter this situation, what should I do? We at OKX TR will be keeping a close eye on the upgrade/maintenance process. Upon completion, we will resume our service immediately. Please stay tuned to OKX TR's announcements for the most up-to-date status reports.

Node upgrade (Deposit/withdrawal suspension)

The community and project team typically work together to upgrade Node. Upon the completion of the upgrade, you can refer to the project team's official announcement.

  • What is a node? A blockchain node is any machine that is connected to the blockchain network. This could include smartphones, ASICs, and servers. The exact definition of a node may depend on the design and structure of the particular blockchain. A "node" in the context of blockchain can vary depending on the type of network. For example, a node in the Bitcoin network downloads the entire blockchain, verifies transactions, and mines new blocks. However, in the current state of the Bitcoin network, full nodes, light nodes, and even regular users can also be considered as nodes.

  • What is a node upgrade? Upgrading the software of the nodes (also known as client software) is known as a blockchain upgrade, and does not involve changing the existing ledger. As public blockchains are decentralised, node upgrades are not compulsory. Node upgrades usually take place after a mainnet upgrade.

  • If I encounter this situation, what should I do? We at OKX TR will be keeping a close eye on the upgrade/maintenance process. Upon completion, we will resume our service immediately. Please stay tuned to OKX TR's announcements for the most up-to-date status reports.

Network upgrade (Deposit/withdrawal suspension)

The project team takes care of mainnet migration. Once it's completed, there will be an announcement on the website that you can refer to.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the service status, so you can stay informed and resume operations as soon as possible.

Hard fork (Deposit/withdrawal suspension)

A hard fork is a disputed blockchain upgrade that must be completed before service can resume. Once the hard fork is complete, OKX TR will start up again without delay.

  • What is forking? A fork in a blockchain occurs when the community disagrees over an upgrade, resulting in the original blockchain splitting into two. Depending on the compatibility of the new chain to the old one, there are two types of forks: soft and hard. A soft fork is a blockchain fork in which the newly forked blockchain is compatible with the old one. In this case, the old nodes are still able to process blocks mined by the new nodes, even though the blockchain code has changed as a result of the upgrade. With a soft fork, nodes can still operate on the same chain, even if they don't verify or process certain blocks. A hard fork occurs when a newly forked chain is not compatible with the old one, meaning that old nodes will refuse to process blocks generated by the new chain. Blocks that do not adhere to the original protocol will be ignored, and miners will always verify the last block according to the old protocol before mining a new block.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status of hard fork, so you can stay informed and resume operations as soon as possible.

During token swap (Deposit/withdrawal suspension)

Once the mainnet goes live, OKX TR will support the project's token swap and resume deposit and withdrawal services upon completion.

  • What is token swap? The development team of a blockchain project could issue an ERC20 token via a Ethereum smart contract before launching its mainnet. Once the mainnet goes live, holders of the ERC20 token can be exchanged for the mainnet token in a 1:1 ratio.

  • Why is token swap needed? Token swap is designed to let users swap their ERC20 token into the mainnet token. Once token swap is completed, the original ERC20 token will be burnt.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status of token swap, so you can stay informed and resume operations as soon as possible.

During airdrop snapshot (Deposit/withdrawal suspension)

To ensure fairness and uphold integrity, deposits and withdrawals will be temporarily suspended during the airdrop snapshot. Service will be resumed immediately after the snapshot.

  • What is an airdrop snapshot? A snapshot is taken to guarantee that users who meet the requirements of the airdrop will receive a proportional amount of free tokens to the amount of tokens or transactions they possess/fulfill.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status of airdrop snapshot, so you can stay informed and resume operations as soon as possible.

Issues occur from the project side (Deposit/withdrawal suspension)

The project team has discovered a technical bug, operational difficulty, and security issue, resulting in the suspension of deposit/withdrawal services. As this issue is caused by a third-party, the exact resume time is unpredictable.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status and service resume, so you can stay informed and resume operations as soon as possible. You can also reach out to the project's support team if you need further assistance.

Projects ceasing operation (Deposit/withdrawal suspension)

On the occasion of project ceasing operation due to operational/financial difficulty, OKX TR will suspend or close the deposit and withdrawal of its token.

  • If I encounter this situation, what should I do? Should you need any assistance regarding the operation ceasing, please contact the project's support team.

Project's security concerns (Deposit/withdrawal suspension)

On the occasion of a project possessing potential risk due to technical bug or operational difficulty, OKX TR will suspend deposit and withdrawal until the project team's security concerns no longer affect or cause any potential losses to our users.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status and service resume, so you can stay informed and resume operations as soon as possible. You can also reach out to the project's support team if you need further assistance.

  • Crypto issued through an event (Deposit/withdrawal not available) The rewarded cryptocurrency which is issued through an event is currently untradable on OKX TR.

  • If I encounter this situation, what should I do? Please check here to withdraw your untradable assets.

Project's node connection difficulty (Deposit/withdrawal suspension)

Due to maintenance of the nodes in the project's network, deposits and withdrawals have been suspended. As this issue is caused by a third-party, the exact resume time is unpredictable.

  • If I encounter this situation, what should I do? It is recommended that you pay close attention to OKX TR's latest announcement for updates on the status and service resume, so you can stay informed and resume operations as soon as possible. You can also reach out to the project's support team if you need further assistance.