Osmosis Restarts After Four Hours Down; Upbit Pauses OSMO Transfers
Osmosis stalled at block 74,955,152 for roughly four hours before restarting. Upbit and Bithumb suspended OSMO deposits and withdrawals while keeping trading open, Coinbase flagged delayed transfers, and OSMO rose almost 14% in 24 hours.
Four hours, no blocks. Osmosis stalled at height 74,955,152 and has since restarted, but South Korean exchange Upbit has suspended OSMO deposits and withdrawals on the chain. Trading stays open.
Quicknode data puts the halt at 5:57 p.m. ET on Nov. 12 (22:57 UTC). Block 74,955,154 carried a 9:53 p.m. ET timestamp. By 1:14 a.m. ET on Nov. 13 the chain had reached block 74,961,665. Quicknode labeled the incident a "Network-Wide Stall."
No technical cause has been disclosed. No security breach has been confirmed.
Exchanges pull transfers, keep trading
Upbit posted its notice at 10:21 a.m. Korean time on Nov. 13 (8:21 p.m. ET on Nov. 12). Trading remains open. There is no fixed restart time: Upbit will announce resumption through the same notice once it confirms transfers can run safely. The exchange cited Article 17, Paragraph 1, Subparagraph A of the Enforcement Decree of the Virtual Asset User Protection Act.
Deposit refund requests and withdrawal address registrations are also off. Deposits made during the halt may not appear until network checks finish.
Bithumb followed, suspending OSMO deposits and withdrawals over stopped block production in a notice on its announcement feed. Trading there stays available too. The suspension was set for 8:43 a.m. Korean time on Nov. 13.
Coinbase reported delayed OSMO sends and receives and said customer funds were safe. Buys, sells and fiat deposits and withdrawals were unaffected. That assurance covers Coinbase customers only. It is not a network-wide read on funds held on Osmosis.
Price held up
OSMO traded near $0.03738 on Nov. 13, up almost 14% in 24 hours, per CoinGecko data. Daily volume: about $8.8M. Market cap: near $26M. The token is still down about 10% over seven days.
The bounce proves little. Nothing shows traders welcomed the outage, or that the outage drove the move.
What it means
A restart does not settle things. Resumed block production does not prove every application or exchange has cleared delayed transactions, and a chain coming back does not automatically reopen exchange transfers. Upbit has tied its reopening to its own safety checks.
Upbit has run this playbook before. In August it paused Ravencoin (RVN) deposits and withdrawals over a consensus problem while keeping trading open. The OSMO pause also lands a week after GOPAX suspended trading and withdrawals on Nov. 6 over a threat email. This time the trigger sat at the chain level, not with a threat aimed at an exchange.
Open questions: what caused the stall, and when Korean exchanges reopen OSMO transfers.
