- KuCoin will halt VET deposits and withdrawals on December 2 before VeChain’s Hayabusa upgrade begins at about 11:27 UTC.
- VeChain says Hayabusa introduces new tokenomics, rewards and a consensus update without creating any new tokens.
- KuCoin will resume VET transfers after confirming network stability and advises users to track updates through official channels.
VeChain’s upcoming Hayabusa upgrade will take place on December 2 at around 11:27 UTC, prompting KuCoin to halt VET deposits and withdrawals. The exchange confirmed the move after VeChain announced its final preparations for the major network change. The temporary suspension aims to protect users during the transition and ensure smooth handling of the update.
KuCoin Outlines Its Upgrade Plan
KuCoin issued its notice to users, stating that all VET deposits and withdrawals will stop at 10:00 UTC on December 2. The halt comes before the scheduled hard fork and upgrade, which the exchange expects to manage without disrupting trading.
This schedule sets the stage for VeChain’s planned rollout, which the team linked to the release tag v2.4.0 on GitHub. To connect these developments, KuCoin stressed that users should avoid transfers until services restart.
The exchange confirmed that VET trading will continue during the event, allowing market activity to proceed normally. It also clarified that the upgrade will not produce new tokens or distribute additional assets to holders.
VeChain Hayabusa Changes
VeChain stated that the Hayabusa upgrade will introduce new tokenomics, new rewards, and a fresh consensus setup. The team described the update as its biggest milestone since the mainnet launch.
VeChain also thanked KuCoin for its support as preparations moved into the final 48 hours before deployment. With these planned changes, VeChain said the upgrade aims to strengthen the network’s structure.
The Foundation emphasized that this transition marks a technical improvement rather than a token distribution event. This context aligns with KuCoin’s assurance that user balances require no manual action during the migration.
Temporary Transfer Freeze and User Guidance
KuCoin added that the freeze will protect funds from transaction issues that may arise during network shifts. The exchange will restore deposits and withdrawals only after confirming network stability. However, KuCoin noted that it will not issue an additional announcement about the exact restoration time, pushing users to track updates through official channels.
This coordinated approach between VeChain and KuCoin shows how exchanges manage major blockchain upgrades. Users now wait for the network to stabilize before normal transfers resume.
