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5 Jun 2026, 05:50

Upbit to Temporarily Halt POKT Deposits and Withdrawals for Network Upgrade

BitcoinWorld Upbit to Temporarily Halt POKT Deposits and Withdrawals for Network Upgrade South Korean cryptocurrency exchange Upbit has announced a temporary suspension of deposits and withdrawals for Pocket Network (POKT), citing an upcoming network upgrade. The halt will take effect at 9:00 a.m. UTC on June 9, 2025, and is expected to last until the upgrade is completed and the network is deemed stable. Details of the Suspension According to Upbit’s official notice, the suspension is a standard precautionary measure to ensure user funds remain secure during the network upgrade process. The exchange has not specified the exact duration of the halt, but similar suspensions typically last between a few hours and a full day, depending on the complexity of the upgrade and the stability of the network after the changes are applied. Users holding POKT on Upbit are advised to complete any pending transactions before the deadline. Deposits and withdrawals initiated after the cutoff time will not be processed until the suspension is lifted. Trading of POKT on Upbit may continue as normal, but users should verify the current status on the platform. Implications for Pocket Network and Traders Pocket Network is a decentralized blockchain platform designed to provide infrastructure for Web3 applications, focusing on decentralized node services. Network upgrades are routine events that introduce improvements, bug fixes, or new features. While such upgrades are generally non-controversial, they can cause temporary disruption for users who need to move tokens between exchanges and wallets. For traders, the suspension means that arbitrage opportunities or quick exits from POKT positions may be limited during the downtime. Those relying on Upbit for POKT liquidity should plan accordingly. The broader impact on the POKT market will depend on the upgrade’s success and any subsequent announcements from the Pocket Network team. What Users Should Do Upbit users holding POKT should take the following steps: Complete any necessary deposits or withdrawals before 9:00 a.m. UTC on June 9. Monitor Upbit’s official announcements for updates on the resumption of services. Check the Pocket Network team’s communication channels for details about the upgrade itself. Conclusion Upbit’s temporary suspension of POKT deposits and withdrawals is a routine but important operational measure tied to a network upgrade. While the halt may cause short-term inconvenience for some users, it is a standard practice to protect assets during technical changes. Traders and holders should stay informed through official channels to avoid disruption. FAQs Q1: When will Upbit resume POKT deposits and withdrawals? The resumption depends on the completion and stability of the Pocket Network upgrade. Upbit will announce the exact time once the network is confirmed stable. Q2: Can I still trade POKT on Upbit during the suspension? Trading may continue as normal, but deposits and withdrawals will be halted. Check Upbit’s platform for the latest status on trading pairs. Q3: Is this suspension related to any security issue? No. Upbit has stated the suspension is solely due to a scheduled network upgrade, not a security incident or vulnerability. This post Upbit to Temporarily Halt POKT Deposits and Withdrawals for Network Upgrade first appeared on BitcoinWorld .

5 Jun 2026, 05:35

Bithumb to Temporarily Halt HBAR Deposits and Withdrawals for Network Upgrade

BitcoinWorld Bithumb to Temporarily Halt HBAR Deposits and Withdrawals for Network Upgrade South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Hedera (HBAR) due to a scheduled mainnet upgrade. The halt will take effect at 10:00 a.m. UTC on June 10, 2025. Timeline and Details of the Suspension According to the official notice from Bithumb, the suspension is directly tied to the Hedera network’s planned upgrade, which requires the exchange to update its infrastructure to maintain compatibility. Users are advised to complete any pending HBAR transactions before the cutoff time. The exchange has stated that services will resume once the network upgrade is complete and stability is confirmed, though an exact reopening time has not yet been provided. Why This Matters to HBAR Holders This temporary halt is a standard procedure for exchanges during major blockchain network upgrades. For HBAR holders and traders on Bithumb, the suspension means that during the maintenance window, they will not be able to move tokens in or out of the exchange. However, spot trading of HBAR against other pairs may continue unless otherwise specified. Users should monitor Bithumb’s official announcements for real-time updates on the resumption of services. Network Upgrades and Exchange Coordination Network upgrades, such as those on the Hedera mainnet, often introduce new features, improve scalability, or patch security vulnerabilities. Exchanges like Bithumb must coordinate their internal systems to align with the upgraded network to prevent transaction errors or asset loss. This coordination is a routine but critical part of maintaining a secure trading environment. Conclusion Bithumb’s decision to suspend HBAR deposits and withdrawals is a precautionary measure to ensure a smooth transition during the Hedera mainnet upgrade. Users should plan accordingly and stay informed via official channels. The temporary halt is not indicative of any security issue with the exchange or the HBAR token itself. FAQs Q1: When will the HBAR suspension start and end? The suspension begins at 10:00 a.m. UTC on June 10, 2025. The exact end time has not been announced and will depend on the successful completion of the Hedera network upgrade. Q2: Will my HBAR tokens be safe during the suspension? Yes. Your HBAR tokens held on Bithumb will remain safe during the maintenance period. The suspension only affects the ability to deposit or withdraw tokens from the exchange. Q3: Can I still trade HBAR on Bithumb during the suspension? Bithumb has not explicitly stated whether spot trading will continue. Users should check the exchange’s trading interface and official notices for updates on trading availability during the maintenance window. This post Bithumb to Temporarily Halt HBAR Deposits and Withdrawals for Network Upgrade first appeared on BitcoinWorld .

5 Jun 2026, 05:15

Zcash Dev Lab CEO: Recent ZEC Bug Was a Rulebook Flaw, Not a Core Crypto Vulnerability

BitcoinWorld Zcash Dev Lab CEO: Recent ZEC Bug Was a Rulebook Flaw, Not a Core Crypto Vulnerability In the wake of a recently disclosed vulnerability in Zcash’s Orchard protocol — a flaw that could have enabled the infinite minting of ZEC tokens — the CEO of the Zcash development lab has moved to clarify the nature of the bug, distinguishing it from a fundamental cryptographic failure. Clarifying the Orchard Vulnerability Josh Swihart, CEO of the Zcash development lab, addressed the incident on his X account, stating that the vulnerability was not rooted in the underlying cryptographic technology or its proof-generation engine. Instead, Swihart explained that the issue resided in a specific ‘rulebook’ that was ‘loosely written, which made fake transactions possible.’ This distinction is crucial for understanding the scope of the problem and the security of the broader Zcash network. The Orchard protocol is a shielded payment system within Zcash, designed to enhance privacy. The bug, if exploited, could have allowed an attacker to create counterfeit ZEC tokens without detection. However, Swihart emphasized that the core cryptographic proofs — the mathematical backbone of the system — remained sound. The flaw was in the set of rules that govern how those proofs are validated. Formal Verification as the Path Forward Swihart stressed the importance of preventing such vulnerabilities from recurring, advocating for ‘formal verification’ as the most robust solution. Formal verification involves mathematically proving that a system’s code behaves exactly as intended for all possible inputs, leaving no room for edge cases that a loosely written rulebook might miss. He noted that multiple teams are currently working to verify Orchard’s existing circuits using this method, a process that could significantly bolster the protocol’s security. Why This Matters for Zcash Users and the Broader Crypto Ecosystem For Zcash holders and users, the key takeaway is that the network’s cryptographic foundation was not compromised. The vulnerability was a procedural or implementation error, akin to a bank having a flaw in its transaction approval workflow rather than a flaw in its vault’s locking mechanism. This incident, however, underscores the complexity of building secure privacy-focused systems and the need for rigorous, multi-layered auditing processes. The event also serves as a broader lesson for the cryptocurrency industry. As blockchain protocols grow more sophisticated, the ‘rulebooks’ — the specific logic that dictates how cryptographic proofs are interpreted — become potential attack vectors. The push for formal verification, while resource-intensive, represents a mature approach to security that could become an industry standard. Conclusion The Zcash Orchard bug was a serious but contained security issue. The swift response from the Zcash development lab, combined with a clear explanation that the core cryptographic technology was not at fault, helps maintain trust in the protocol. The ongoing effort to formally verify Orchard’s circuits is a proactive step that should strengthen the network against similar flaws in the future. For the crypto community, it reinforces the principle that security is a continuous process of improvement, not a one-time achievement. FAQs Q1: What exactly was the Zcash Orchard bug? The bug was a vulnerability in the rulebook of the Orchard protocol that could have allowed an attacker to create fake ZEC tokens. It was not a flaw in the underlying cryptographic technology. Q2: Was any Zcash stolen or minted as a result of this bug? No. The vulnerability was discovered and disclosed responsibly before it could be exploited. No funds were lost or illicitly created. Q3: What is formal verification, and why is it important? Formal verification is a mathematical method used to prove that a system’s code behaves correctly for every possible scenario. It is considered the gold standard for security because it eliminates the edge cases and logical gaps that manual code reviews might miss. This post Zcash Dev Lab CEO: Recent ZEC Bug Was a Rulebook Flaw, Not a Core Crypto Vulnerability first appeared on BitcoinWorld .

5 Jun 2026, 04:45

South Korea Launches First Formal Probe into Polymarket Users Over Gambling Allegations

BitcoinWorld South Korea Launches First Formal Probe into Polymarket Users Over Gambling Allegations South Korea’s Gangwon Provincial Police Agency has initiated a formal investigation into domestic users of the prediction market platform Polymarket on charges of illegal gambling, according to a report by Digital Asset. This marks the first confirmed official probe in the country into gambling allegations specifically tied to the use of such decentralized prediction platforms. Background of the Investigation The investigation centers on whether Polymarket users in South Korea violated local gambling laws by participating in event-based betting on the platform. Polymarket, a blockchain-based prediction market, allows users to trade shares on the outcomes of real-world events, ranging from political elections to sports results. Under South Korean law, gambling is strictly regulated, and unauthorized betting platforms are subject to criminal penalties. Legal Implications for Users and Platforms This probe signals a potential shift in how South Korean authorities view decentralized finance (DeFi) platforms that blur the line between financial trading and gambling. Legal experts suggest that if the investigation leads to charges, it could set a precedent for how other similar platforms are treated in the country. The outcome may also influence regulatory approaches in other jurisdictions watching South Korea’s handling of blockchain-based prediction markets. Why This Matters for the Crypto Industry Polymarket operates on the Ethereum blockchain, using smart contracts to facilitate trades without a central intermediary. This decentralization complicates enforcement, as the platform itself may not be directly subject to any single country’s laws. However, individual users remain within the jurisdiction of their home countries. The investigation underscores the growing tension between global blockchain platforms and national regulatory frameworks. Conclusion The Gangwon Provincial Police Agency’s investigation into Polymarket users represents a significant development in the regulation of decentralized prediction markets in South Korea. As authorities seek to clarify the legal status of such platforms, users and operators alike should monitor the case closely for its potential impact on the broader crypto and DeFi landscape. FAQs Q1: What is Polymarket? Polymarket is a decentralized prediction market platform where users can bet on the outcomes of real-world events using cryptocurrency. It operates on the Ethereum blockchain. Q2: Why is South Korea investigating Polymarket users? South Korean authorities suspect that domestic users may have violated local gambling laws by participating in event-based betting on Polymarket, which is not licensed as a legal gambling platform in the country. Q3: What are the potential consequences for users? If found guilty of illegal gambling, users could face criminal penalties, including fines or imprisonment, depending on the severity of the charges. The investigation may also lead to stricter regulations on similar platforms. This post South Korea Launches First Formal Probe into Polymarket Users Over Gambling Allegations first appeared on BitcoinWorld .

5 Jun 2026, 04:10

Gravity Bridge Hacker Moves Another $2.1 Million in Stolen ETH to Tornado Cash

BitcoinWorld Gravity Bridge Hacker Moves Another $2.1 Million in Stolen ETH to Tornado Cash The hacker responsible for the Gravity Bridge exploit has transferred an additional 1,180 ETH, valued at approximately $2.06 million, to the cryptocurrency mixing service Tornado Cash, according to blockchain security firm CertiK. This latest transaction brings the total amount of stolen funds sent through the mixer to 2,020 ETH. Details of the Latest Transactions CertiK reported that the funds were moved through two externally owned accounts (EOAs) in a series of transactions over the past 24 hours. The total stolen during the initial exploit was 2,600 ETH, worth roughly $5.4 million at the time of the hack. Of that amount, the majority has now been routed through Tornado Cash, a protocol designed to obscure transaction trails on the Ethereum blockchain. The remaining stolen assets have been distributed across multiple centralized exchanges (CEXs), according to the security firm’s on-chain analysis. This pattern of moving funds through mixers and exchanges is a common tactic used by hackers to launder illicit proceeds and evade law enforcement. Background on the Gravity Bridge Exploit The Gravity Bridge hack, which occurred in mid-2024, exploited a vulnerability in the cross-chain bridge protocol. The attacker drained over 2,600 ETH from the bridge’s smart contract, prompting an immediate investigation by CertiK and other blockchain forensics teams. The incident highlighted ongoing security risks associated with cross-chain infrastructure, which remains a frequent target for attackers due to the complexity of inter-blockchain communication. Why This Matters for the Crypto Ecosystem The continued movement of stolen funds through Tornado Cash underscores persistent challenges in blockchain security and regulatory enforcement. Despite sanctions imposed by the U.S. Treasury Department on the mixer in 2022, the protocol remains operational and continues to be used for laundering stolen cryptocurrency. This case also illustrates the difficulty of recovering assets once they enter mixing services, as transaction histories become nearly impossible to trace. For users and investors, the Gravity Bridge incident serves as a reminder of the risks associated with cross-chain protocols and the importance of thorough smart contract audits. It also highlights the ongoing cat-and-mouse dynamic between blockchain security firms and malicious actors. Conclusion The Gravity Bridge hacker’s latest move to funnel over $2 million in stolen ETH through Tornado Cash brings the total laundered through the mixer to more than 2,000 ETH. With the remaining funds scattered across exchanges, the case remains active, and CertiK continues to monitor the wallets involved. The incident reinforces the need for stronger security measures in cross-chain protocols and the ongoing challenge of tracing and recovering stolen digital assets. FAQs Q1: What is Tornado Cash and why do hackers use it? Tornado Cash is a decentralized cryptocurrency mixer that breaks the on-chain link between a sender and receiver by pooling funds from multiple users. Hackers use it to obscure the trail of stolen assets, making it difficult for investigators to trace the funds. Q2: How much was stolen in the Gravity Bridge hack? The attacker stole 2,600 ETH, which was valued at approximately $5.4 million at the time of the exploit. The funds have since been moved through mixers and exchanges. Q3: Can the stolen funds be recovered? Recovery is extremely challenging once funds enter a mixer like Tornado Cash, as the transaction history is intentionally obfuscated. However, blockchain security firms like CertiK continue to monitor the wallets and may provide intelligence to law enforcement if any funds resurface on exchanges. This post Gravity Bridge Hacker Moves Another $2.1 Million in Stolen ETH to Tornado Cash first appeared on BitcoinWorld .

5 Jun 2026, 03:55

Sui Introduces Confidential Transfers to Prevent Unauthorized Minting and Secure Supply

BitcoinWorld Sui Introduces Confidential Transfers to Prevent Unauthorized Minting and Secure Supply Sui, the layer-1 blockchain network, is adding a confidential transfers feature designed to prevent unauthorized token minting while preserving transaction privacy. Co-founder and Chief Product Officer Adeniyi Abiodun announced the development on X, outlining how the protocol embeds supply conservation directly into its structure rather than relying on individual cryptographic proofs. How Sui’s Confidential Transfers Work According to Abiodun, the primary challenge for privacy-focused cryptocurrencies is not simply hiding transaction amounts but ensuring that no one can mint new tokens without authorization while keeping the total supply protected. Sui addresses this by narrowing its cryptographic verification to a single element: range proofs for the transfer amount. Range proofs allow the network to verify that a transaction amount falls within a valid range without revealing the exact value. More importantly, Sui enforces asset supply conservation at the protocol level. Instead of requiring separate proofs for each transaction to confirm no new tokens were created, the network’s architecture itself makes unauthorized issuance structurally impossible. This design choice reduces cryptographic overhead and strengthens security guarantees. Context: The Zcash Orchard Incident The announcement arrives against the backdrop of a past security incident involving Zcash’s Orchard protocol. A bug in that system allowed for unauthorized token issuance, drawing significant community attention to the risks inherent in privacy-focused cryptographic systems. The Zcash vulnerability highlighted how even well-audited protocols can face supply-integrity challenges when privacy features are implemented. Sui’s approach aims to learn from such incidents by embedding supply verification into the foundational protocol logic rather than relying on individual transaction proofs that could potentially be exploited. Why This Matters for the Crypto Ecosystem Confidential transfers are a critical feature for blockchain networks seeking broader adoption in enterprise and financial applications. Privacy without compromising supply security has been a longstanding tension in cryptocurrency design. If Sui’s implementation proves robust, it could set a new standard for how layer-1 networks balance transparency, privacy, and security. The move also positions Sui to compete more directly with established privacy-focused blockchains while addressing one of the most cited concerns among institutional investors: the risk of undetected token inflation. Conclusion Sui’s confidential transfers represent a notable technical advancement in addressing the dual challenges of transaction privacy and supply integrity. By embedding asset supply conservation at the protocol level and using range proofs for amount verification, the network aims to prevent unauthorized minting without sacrificing user privacy. As the feature rolls out, the broader crypto community will be watching closely to see whether this design can avoid the pitfalls that have affected similar systems in the past. FAQs Q1: What are range proofs in the context of Sui’s confidential transfers? Range proofs are cryptographic mechanisms that allow the network to verify that a transaction amount falls within a valid range—such as between zero and the sender’s balance—without revealing the exact amount. This enables privacy while preventing invalid transactions. Q2: How does Sui prevent unauthorized minting differently from other privacy coins? Sui embeds asset supply conservation directly into its protocol structure, meaning the network architecture itself makes unauthorized issuance impossible. Other systems often rely on individual transaction proofs, which have historically been vulnerable to bugs. Q3: When will Sui’s confidential transfers be available? The feature has been announced but no specific launch date has been provided. Sui co-founder Adeniyi Abiodun shared the development on X, indicating it is in advanced stages. Further details are expected in upcoming technical documentation. This post Sui Introduces Confidential Transfers to Prevent Unauthorized Minting and Secure Supply first appeared on BitcoinWorld .