Bithumb, one of South Korea’s largest cryptocurrency exchanges, has announced that it will temporarily suspend deposit and withdrawal services for LumiWave (LWA) tokens. The scheduled outage will begin at 2:00 a.m. UTC on June 15, 2025, to facilitate the token’s official rebranding process.
Why suspension is important
Token rebranding often involves technical updates to a project’s smart contract, token ticker, or underlying blockchain infrastructure. During this period, exchanges typically suspend trading and wallet services to prevent trading errors and loss of funds. For LumiWave owners, this means that they will not be able to move or trade LWA tokens on Bithumb for a defined period of time until the upgrade is complete and service is restarted.
Bithumb has not yet disclosed the exact duration of the suspension or a specific reopening date. Historically, such maintenance periods can last from a few hours to a few days, depending on the complexity of the rebrand and the coordination required between the exchange and the project team.
What is Lumiwave (LWA)?
LumiWave is a blockchain project focused on decentralized data storage and content distribution. Rebranding is expected to reflect the latest project vision, technology roadmap, or brand identity. An important point for investors and users is that the underlying technology and utility of the tokens are subject to change, so it is recommended to stay informed through official channels.
Impact on traders
Traders holding LWA on Bithumb must ensure that any pending trades are completed before the expiration time. Attempting to deposit or withdraw LWA after the suspension has begun may result in a failed transaction or loss of funds. The exchange advises users to plan accordingly and monitor official announcements for updates on when service will be restored.
This type of outage is standard practice on major exchanges during token upgrades and is not necessarily a sign of a problem with the project itself. However, there will be a period of illiquidity for the token on that particular platform.
conclusion
Bithumb’s suspension of LWA deposits and withdrawals is a routine but important step related to the token rebranding. Users should note the June 15 deadline and watch for further announcements regarding service resumption. As always, it is essential to verify information directly from the official communication channels of the exchange or project.
FAQ
Q1: Are my LWA tokens safe during suspension?
yes. Tokens already held in your Bithumb wallet will remain safe and accessible for trading within the exchange, but deposits and withdrawals will be temporarily unavailable.
Q2: How long is the suspension period?
Bithumb has not yet announced a specific end date. Such maintenance typically lasts from a few hours to a few days. Users should monitor Bithumb’s official announcements for the latest information.
Q3: Can I trade LWA on other exchanges during this period?
Yes, the suspension is unique to Bithumb. LWA may continue to be traded on other exchanges that support the token, depending on their own rebranding schedules.
