[Upbit] Notice of Suspension of Magic (MAGIC) Deposits and Withdrawals Due to Network Transition (2/20 11:00 ~)

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

Due to the network transition of Magic (MAGIC) from the Arbitrum One network to the Treasure Chain network, we are announcing the suspension schedule for deposits and withdrawals as follows. (Virtual Asset User Protection Act Enforcement Decree Article 17, Paragraph 1, Subparagraph A, B)

[Magic (MAGIC) Network Transition Notice]

• Network Transition: Arbitrum One → Treasure Chain

[Suspension Time for Deposits and Withdrawals]

• Scheduled Suspension Time for Magic (MAGIC) Deposits and Withdrawals: 2025-02-20 (Thu) 11:00 KST

*The deposit return procedure for the relevant digital asset will be temporarily suspended during the suspension period.

*The resumption time for Magic (MAGIC) deposits and withdrawals will be updated through a separate notice.

[Precautions Related to Deposits and Withdrawals]

• In case of suspension of deposits and withdrawals, delays in deposit processing may occur due to network congestion, and there may be a difference between the confirmation completion time of transactions on the blockchain network and the deposit reflection time.

• Deposits and withdrawals may occur on some blockchain networks before or after the suspension time, but normal processing is not possible during the inspection period depending on our wallet system processing situation, and processing may be delayed in reflecting on member accounts as it will be processed sequentially after the inspection is completed.

• Magic (MAGIC) deposited after the suspension time will not be included in the network transition target, so please do not deposit Magic (MAGIC) after the suspension time.

• After the network transition work of Magic (MAGIC) is completed, the deposit address of MAGIC will be changed. Therefore, you must issue a new deposit address after the network transition is completed.

• If you deposit to the existing Magic (MAGIC) deposit address (Arbitrum One) after the suspension time, it will take a long time to recover, and a recovery fee will be incurred. Also, recovery will be made to the previous network (Arbitrum One).

*Recovery may not be possible depending on the plans and decisions of the Magic team.

[Frequently Asked Questions]

• Although Magic (MAGIC) deposits and withdrawals are temporarily suspended, Magic (MAGIC) trading is possible.

• Upbit plans to closely cooperate with the Magic team to safely protect your assets, and if there are any additional or changes, we will provide further guidance in this notice.

We ask for your understanding as this is a measure for safe deposit and withdrawal support.

Thank you.

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

*This is automatically generated information.