Upbit Halts OSMO Transfers as Osmosis Stalls at Block 74,955,152

Upbit suspended OSMO deposits and withdrawals on November 13, 2026, after Osmosis stopped producing blocks at height 74,955,152, according to a QuickNode incident report. The network stalled at 22:57 UTC on November 12, 2026.

At 10:21 a.m. Korean time on November 13, the South Korean exchange restricted transfers involving the Osmosis Chain. Upbit cited Article 17, Paragraph 1, Subparagraph A of the Enforcement Decree of South Korea’s Virtual Asset User Protection Act as the legal basis.

What does the outage change for customers?

The restriction did not close the order book. Customers holding OSMO on Upbit could still place buy and sell orders through the exchange’s supported markets. The company did not announce a trading suspension or a delisting.

What it stopped was movement through the affected chain. Users could not deposit OSMO from external wallets or withdraw exchange balances over Osmosis Chain. Upbit also disabled deposit refund requests and withdrawal address registrations, then planned to clear pending requests after service resumed.

Deposits sent during the interruption might not appear in customer accounts until required network checks were complete. Upbit said it would announce the reopening only after confirming that deposits and withdrawals could be processed safely.

The network failure

Osmosis operates as a Layer 1 blockchain in the Cosmos ecosystem. It supports decentralized cryptocurrency trading and liquidity services, and its validators must produce new blocks to add transactions.

QuickNode’s report placed the stop at 22:57 UTC on November 12 and described the event as a “Network-Wide Stall.” The infrastructure provider said the interruption affected providers relying on the chain. QuickNode placed the incident under investigation and expected its services to process new blocks after the network restarted.

Without new blocks, validators cannot add transactions. Transfers can remain pending because the network cannot supply the confirmations needed to complete them. The effect reaches exchange deposits and withdrawals, wallet transfers and decentralized applications. Available reports did not establish a technical cause or identify a confirmed security breach.

Exchanges isolate the disruption

Bithumb acted first in South Korea. It scheduled its OSMO deposit and withdrawal suspension for 8:43 a.m. Korean time on November 13, before Upbit published its notice. The exchange warned that pending transactions could face delays and said transfers would resume after network stability returned. Trading stayed available, with a caution about possible price volatility.

Coinbase published a separate service notice on November 12. The US exchange reported delays when customers sent or received Osmosis tokens, while purchases, sales and fiat deposits and withdrawals remained unaffected. Coinbase said it was investigating and told customers their funds remained safe.

The notices differed because each exchange set its own restrictions and recovery conditions. All three followed the same underlying network failure.

Trading continues while transfers wait

The exchange order books stayed active while the chain itself did not. Trades between customers on a centralized exchange do not require a separate blockchain transaction for every order, so the suspensions targeted the on-chain rails rather than trading in OSMO.

CoinGecko data put OSMO near $0.03738 on November 13. The token had gained nearly 14% over 24 hours, carried about $8.8 million in daily trading volume and a market capitalization near $26 million.

It remained down roughly 10% over the previous seven days. The price move does not show that traders welcomed the outage or that the failure caused the gain.

Upbit used the same precaution in August after a consensus problem affected Ravencoin. It temporarily stopped RVN deposits and withdrawals while leaving trading available.

The restoration test

The announcements did not set a firm restart deadline. Upbit tied reopening to safe processing, while Bithumb tied resumption to confirmed network stability. Coinbase gave no resumption time and said its investigation continued.

For customers, the practical divide is clear: orders continued on exchange books, while chain movements faced verification delays. The next checkpoint is block production itself. Validators must restart the chain before Upbit and Bithumb can confirm stability and reopen transfers.