Bithumb Halts Injective (INJ) Deposits and Withdrawals From 6 PM KST on November 11

Bithumb Pauses INJ Transfers at 6 PM KST

Bithumb, one of South Korea's largest crypto exchanges, will suspend deposits and withdrawals of Injective (INJ) from 6:00 PM Korean time on Wednesday, November 11, a cutoff that falls at 09:00 UTC. The exchange's announcement went live at 11:00 AM the same day, filed under its deposit and withdrawal notice category, and it names a single asset: INJ, the token of the Injective protocol, a derivatives-focused layer-1 built for futures trading and secured through delegated proof of stake. Both directions of transfer are covered, which means users can neither send INJ to the exchange nor pull it out until the operator lifts the halt.

The scope is narrow. Trading is not part of the notice, and the KRW market stays open through the suspension window, so the Injective (INJ) price continues to form on the venue itself even as its transfer rails close. What the announcement leaves out matters as much as what it contains: no reason is stated, no resumption time is promised, and no wallet, network or custody issue is identified. The window is open-ended as written, since the notice fixes a start hour but no end. Bithumb's practice in these cases is to publish a follow-up when transfers go back live, and until that notice appears the halt stands. Korean time is the unit the exchange uses, and every figure in the notice is stated on that clock. For holders the immediate effect is a timing problem more than a liquidity problem. Funds already on the exchange can still be sold into the KRW market and buyers can still accumulate, but nothing moves on or off the venue while the window runs. Deposits sent mid-suspension carry a known risk: incoming transactions to a hot wallet can sit uncredited until the pause ends, which is why notices of this kind state the start hour down to the minute.

Resumption on November 10 Came One Day Earlier

The new halt lands one day after a previous Injective (INJ) transfer suspension on the same venue was lifted on November 10, according to Coinreaders, which tracked the exchange's notice flow through the week. The November 10 resumption closed out that earlier halt in the same one-line format. The same flow shows the cadence is not specific to Injective. A suspension for Flare (FLR) was set for 7:00 PM KST on November 11, an hour after the INJ window opened, and earlier notices covered XPLA from noon on November 7, NEAR Protocol on November 6 and again on November 4, Algorand, Polygon Ecosystem Token and Babylon on November 5, and 35 assets across BASE-network channels from 11:00 PM that day. Each entry follows one template: an asset name, a start hour, a deposit-and-withdrawal classification and no stated cause. That pace, more than ten transfer notices in November alone, is the background against which Wednesday's INJ entry lands.

Operationally the mechanism is simple. When a venue pauses transfers it stops relaying transactions to and from its operational wallets, while balances, order books and custody records stay in place. KRW-pair liquidity on the exchange therefore stays reachable throughout, and only settlement in and out of the venue closes. For Korean users the practical test is the same in every one of these notices: balances stay visible, orders stay executable, and the only locked function is the bridge between the exchange and the chain. COINOTAG has documented before how much these rails matter: in an earlier incident, Injective's mainnet stopped producing blocks for 4 hours 24 minutes, and both Upbit and Bithumb then froze INJ transfers while the network recovered. Nothing in Wednesday's notice extends beyond Bithumb: no other venue is named, and the resumption will be announced the same way the halt was, a short entry with a time and an asset.

KRW Market Stays Open Through the Halt

COINOTAG's reading is that the cadence, not the notice, carries the signal. The exchange's official announcement, a one-line deposit-and-withdrawal entry, states a start time and an asset and nothing else, and an operator that has issued more than ten transfer-suspension notices this month is running scheduled wallet operations across its list rather than reacting to a single-token emergency. The altcoin market has largely learned to price these pauses at zero: KRW order books absorb the frozen settlement flow, and desks route around the closed venue until the rails reopen, whatever INJ technical analysis says about the chart in the meantime. What stays available through the window is the point: the KRW market remains open, custody records remain intact, and a single follow-up notice on the same board is all it takes to switch the flow back on.