[Upbit] Notice of MAGIC Deposit/Withdrawal Suspension due to Network Migration (Feb 20, 11:00)

Hello. This is Upbit, the most trusted global standard digital asset exchange.

We would like to inform you about the suspension schedule for deposits and withdrawals of MAGIC due to its network migration from Arbitrum One to Treasure Chain. (Virtual Asset User Protection Act Enforcement Decree Article 17, Paragraph 1, Items A and B)

[MAGIC Network Migration Notice]

• Network Migration: Arbitrum One → Treasure Chain

[Suspension Timeline]

• MAGIC deposit/withdrawal suspension: February 20, 2025 (Thu) 11:00 KST (planned)

*During the suspension period, the deposit return process for this digital asset will be temporarily suspended.

*The resumption of MAGIC deposit/withdrawal support will be updated through a separate notice.

[Important Notes for Deposits/Withdrawals]

• When deposits/withdrawals are suspended, processing may be delayed due to network congestion, and there may be differences between blockchain transaction confirmation time and deposit reflection time.

• Although deposits/withdrawals may occur before or after the suspension point on some blockchain networks, normal processing will not be possible during the maintenance period due to our wallet system processing status. Processing will be sequential after maintenance completion, which may cause delays in reflecting to member accounts.

• MAGIC deposits made after the suspension point will not be included in the network migration target. Please do not deposit MAGIC after the suspension point.

• After MAGIC's network migration is complete, the deposit address will change. Therefore, you must obtain a new deposit address after the network migration is complete.

• If deposited to the existing MAGIC deposit address (Arbitrum One) after the suspension point, recovery will take a long time and incur recovery fees. Also, recovery will be made to the previous network (Arbitrum One).

*Recovery may not be possible depending on the MAGIC team's plans and decisions.

[Frequently Asked Questions]

• While MAGIC deposits/withdrawals will be temporarily suspended, MAGIC trading will remain available.

• Upbit will closely cooperate with the MAGIC team to safely protect members' assets, and any additional or changed information will be updated in this notice.

We ask for your understanding regarding these measures to ensure safe deposit/withdrawal support.

Thank you.

※ Virtual assets are high-risk products that may result in the loss of part or all of your investment.

*This information is automatically generated.