Upbit, the largest exchange platform in South Korea, just made a major move—a comprehensive upgrade and maintenance of its wallet system.

Here’s the key point: all old deposit addresses have been cleared. Yes, you read that right—they’re all deleted.

What does this mean? If you still want to deposit funds into Upbit, you must generate a new address first. If you use the old address to deposit, your funds may take a long time to arrive, and you could run into various issues.

The good news is, deposit and withdrawal functions won’t be closed indefinitely. Starting from 5:00 PM local time on December 5, the platform will gradually resume services—covering 21 blockchain networks and supporting deposits and withdrawals for 33 digital assets.

If you’re an Upbit user, make sure to update your deposit address on the platform as soon as possible. Don’t wait until you need to use it and find your funds stuck in transit—that would be awkward.

Though wallet upgrades can be a hassle, they’re beneficial for the system’s security and stability in the long run. Just be extra careful during this transition period before you make any transactions.