Temporary suspension of Deposit/Withdrawal service for MAGIC(MAGIC) due to Network Transition (2/20 11:00 ~)

Dear Upbit users,

The Deposit/Withdrawal service for MAGIC(MAGIC) will be suspended due to the network transition from the Arbitrum One network to the Treasure Chain Network. (Article 17, Paragraph 1, Items A, B of the Enforcement Decree of the Act on the Protection of Virtual Asset Users)

[MAGIC Network Transition Details]

• Network Transition: Arbitrum One → Treasure Chain

[Deposit/Withdrawal Suspension Details]

• MAGIC(MAGIC) Deposit/Withdrawal Suspension Time: Scheduled for 2025-02-20 (Thu) 11:00 KST*The procedures for returning deposits for MAGIC(MAGIC) will be temporarily suspended during the period of deposit/withdrawal service suspension.*The resumption timing for MAGIC(MAGIC) deposit/withdrawal service will be updated through a separate announcement.

[Notes]

• In the event of a suspension, delays in deposit processing may occur due to network congestion, and there may be discrepancies between the transaction confirmation time on the blockchain network and the reflection time of the deposit.
• Deposits and withdrawals may occur before or after the suspension timing on some blockchain networks, but normal processing will not be possible during the inspection period, and after the inspection is completed, processing will be done sequentially after the verification process, which may delay the reflection in user accounts.
• Deposits of MAGIC(MAGIC) made after the deposit/withdrawal suspension will not be included in the network transition, so please do not deposit MAGIC(MAGIC) after the suspension.
• After the network transition work of MAGIC(MAGIC) is completed, the MAGIC(MAGIC) deposit address will change. Therefore, it is mandatory to obtain a new deposit address after the network transition is completed.
• When depositing to the existing MAGIC(MAGIC) deposit address (Arbitrum One) after suspension, recovery takes a long time and recovery fee will occur. In addition, it is restored to the previous network (Arbitrum One) at the time of recovery.*Depending on the MAGIC(MAGIC) team’s plans and decisions, it may not be recoverable.

[Frequently Asked Questions]

• Although deposits and withdrawals of MAGIC(MAGIC) will be temporarily suspended, trading of MAGIC(MAGIC) will remain possible.
• Upbit will work closely with the MAGIC(MAGIC) team to ensure the secure protection of users' assets. Any further changes or updates will be included in this notice.

We ask for your understanding in the measures taken to support safe deposits and withdrawals.

Thank you.

※ Digital assets are highly volatile and your investment may result in significant loss.※ If there is any discrepancy between the translated English version and the original Korean version, the Korean version shall prevail.