OKX to temporarily halt deposits and withdrawals of some tokens on April 12

• The temporary halt is planned to take only one hour.
• The halt is related to tomorrow’s Ethereum Shapella upgrade.
• The affected tokens are mainly ERC-20 tokens.

Seychelles-based crypto exchange OKX has announced it will be temporarily suspending deposits and withdrawals of ETH, ARB, OP, and ERC-20 tokens because of the upcoming Ethereum Shapella upgrade.

The Shapella upgrade is scheduled to take place on April 12at epoch 194,048 at approximately 10:27 PM (UTC)

The temporary deposit and withdrawal halt

OKX said that deposits and withdrawals of the said tokens will be temporarily suspended on the crypto exchange for about one hour on April 12, 2023, at 9:30 p.m. UTC. The suspension will be in force until the Shapella upgrade is completed.

Besides, OKX Interoperability platform Wanchain said that its WanBridge frontend would be temporarily inaccessible starting at 10 PM UTC on April 12. Binance will also temporarily suspend deposits and withdrawals of ETH, OP, ARB and ERC-20 tokens via the Ethereum, Optimism, and Arbitrum networks, starting on April 12 at 10:20 PM (UTC).

Ethereum Shapella upgrade

“Shapella” is a derived upgrade name (Shanghai + Capella) to suggest two layers of the blockchain are being upgraded simultaneously. It is the first Ethereum network upgrade since The Merge upgrade.

The Shanghai upgrade will deploy changes to the Execution Layer while the Capella upgrade will bring some spec changes to the Consensus Layer. The upgrade will deploy EIP-4895 on the Execution clients to allow for the Withdrawal of staked ETH for Ethereum validators along with three other EIPs deployed on the mainnet.