Why did Upbit suspend Zcash withdrawals?

Upbit temporarily suspended Zcash (ZEC) withdrawals to complete a scheduled wallet upgrade. The exchange said the maintenance is intended to improve wallet security, stability and functionality for users.

Are Zcash deposits still available on Upbit?

Yes. Upbit stated that only withdrawals are affected by the maintenance. Deposits and trading services for ZEC are expected to continue operating normally during the upgrade period.

How long will the Zcash withdrawal suspension last?

Upbit has not provided a specific completion time for the upgrade. However, similar wallet maintenance events on major exchanges are often completed within 24 to 48 hours.

Does the suspension affect the Zcash blockchain itself?

No. The maintenance is limited to Upbit’s internal wallet infrastructure. The broader Zcash network continues to operate normally, and users can still transact on other exchanges and wallets.

Why do exchanges perform wallet upgrades for cryptocurrencies like Zcash?

Wallet upgrades help exchanges maintain compatibility with network improvements, enhance security and improve operational reliability. Privacy-focused cryptocurrencies such as Zcash periodically implement technical updates that exchanges must support.

Can users still trade Zcash on Upbit during the maintenance?

The announcement only affects withdrawals. Unless Upbit announces additional restrictions, users should still be able to buy, sell and deposit ZEC on the platform.

Could the withdrawal suspension affect Zcash prices?

The impact is likely to be limited because the maintenance only affects one exchange. However, Upbit is a major trading venue in South Korea, so temporary price differences between exchanges could emerge during the suspension.

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Upbit pauses Zcash withdrawals for wallet upgrade

Written by Isaac FrancisPublished Jun 10, 2026, 7:26 AM

South Korean cryptocurrency exchange Upbit has temporarily suspended withdrawals of Zcash as it carries out a scheduled wallet upgrade aimed at improving security and operational functionality.

The exchange announced that the maintenance period would remain in place until the upgrade is completed, although it has not provided a specific timeline for the restoration of withdrawal services.

The suspension affects only Zcash withdrawals, while deposits are expected to continue operating normally throughout the maintenance process.

Wallet upgrades are a routine part of supporting privacy-focused cryptocurrencies such as Zcash, which regularly implement network and infrastructure improvements.

The maintenance does not affect the broader Zcash blockchain or trading activity on other exchanges, but it temporarily prevents Upbit users from transferring ZEC holdings off the platform.

Given Upbit's significant presence in the South Korean digital asset market, short-term service disruptions can occasionally create localised price differences and arbitrage opportunities between exchanges.

Users holding ZEC on Upbit have been advised to monitor official exchange announcements for updates, with similar wallet upgrades typically completed within one to two days.

At the time of reporting, Zcash price was $429.39.

Upbit pauses Zcash withdrawals for wallet upgrade

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