Bithumb Reopens INIT Withdrawals While Deposits Stay Halted Under Trading Caution
By Node Zero
November 3, 2026
Bithumb has reopened INIT withdrawals after nearly two weeks of transfer locks — while deposits stay dark under the exchange’s trading-caution designation. The venue’s updated notice on the Oct. 24 halt page, stamped 2026-11-03 16:35:03 KST, says withdrawal service for Initia’s network asset resumes at 17:20 KST Nov. 3 (08:20 UTC), citing the same security-suspicion pause that froze rails after the late-October MoveVM incident. That is the Korean-venue chapter this desk flagged as open after Initia’s L1/rollup “back online” print (15410) and the earlier Upbit/Bithumb/Coinone caution filing (11241).
Read the reopen narrowly. Bithumb’s update names INIT as the target asset and a withdrawal resume time only. The same notice keeps INIT under 거래유의종목 (trading-caution) status and says deposits remain suspended until that designation is lifted, with deposit reopen promised only via a separate notice. Trading can continue while deposit rails stay closed — a split desk that matters for collectors sizing exits versus inbound settlement into Korean books.
Peer venues are not synchronized. Coinone’s Nov. 3 consolidated halt board still lists INIT deposits and withdrawals interrupted since Oct. 26 under trading-caution, without a matching withdrawal-resume stamp. Prior Upbit language from the caution week still pointed to a Nov. 23–27 review window and a withdrawals-first reopen policy if services return — not a same-day Bithumb twin. Do not collapse one Bithumb withdrawal flip into a claim that every Korean CEX cleared INIT rails.
Protocol context stays on the prior Dev Pulse board. Initia’s Nov. 2 restart window already carried L1/rollup “operating normally” language, LayerZero OFT WETH/AUSD0 24-hour processing, Noble USDC hourly limits, and restored backing for named stables — while bridges and venue transfers waited monitoring (15410). Today’s Bithumb stamp is exchange ops, not a new MoveVM post-mortem or a DEX rebalance receipt. The parked ~1,135.5 ETH attacker-side trail on Ethereum remains a separate forensic beat.
For NFT and crypto desks that touched Initia rollups or held INIT on Korean books, the practical read is exit liquidity at one major venue without inbound deposit symmetry. Withdrawal reopen can thin trapped inventory and pressure local order books even while caution keeps deposits blocked. Pending withdrawals filed before the Oct. 24 halt may still clear through Bithumb’s sequential review language in the original notice — treat latency as operational, not as a second freeze. Builders who parked game, NFT, or DeFi inventory on Initia-linked wallets still need separate confirmation that bridge OFT and Noble USDC paths behave as the Nov. 2 limit map described — a Bithumb CEX stamp does not rewrite those protocol timers.
Incident math stays unchanged in this chapter. The October 23 MoveVM script-caching exploit that credited unbacked bridged assets and drained about $2.7 million before the halt — with native INIT supply described as unaffected — remains the forensic backdrop, not a retelling. Foundation funding language that restored named collateral backing before the restart still sits upstream of today’s exchange reopen. Korean trading-caution designations from Oct. 26 were always a venue-risk overlay on top of network halt status; peeling back withdrawals at Bithumb is the first clear caution-adjacent transfer move this desk can date from an official notice.
What this chapter will not invent: an Upbit or Coinone withdrawal flip without their own notices, a Bithumb deposit reopen while caution remains, a caution-lift or delist decision ahead of any Nov. 23–27 review language still circulating on peer venues, or a claim that LayerZero/Noble corridor limits disappeared because one CEX restored INIT withdrawals. Prefer Bithumb’s dated update text and the live Initia status board over aggregator copy that merges Korean caution into finished incident closure.
Next protocol beat: Confirm live Bithumb withdrawal processing for INIT after 17:20 KST, watch for any Upbit/Coinone twin notices, and wait for a separate Bithumb deposit reopen or caution-lift stamp — without treating one withdrawal flip as full Korean-rail normalization.
Bottom line: Bithumb restored INIT withdrawals from 17:20 KST Nov. 3 while deposits remain suspended under trading caution — a one-venue Korean reopen after Initia’s network restart, not a full caution lift across peers.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
