Bithumb altcoin withdrawals delayed 13 hours; FSS to visit

South Korea's Financial Supervisory Service (FSS) is set to visit cryptocurrency exchange Bithumb following significant withdrawal delays for several altcoins. Users have reported that some cryptocurrency withdrawals have been stalled for over 13 hours, prompting regulatory scrutiny. Bithumb has cited a temporary surge in withdrawal requests as the reason for the delays, stating that the immediate liquidity available for withdrawals was insufficient to meet the sudden demand. The FSS's on-site visit aims to thoroughly investigate the root cause of these prolonged disruptions. The exchange's explanation points to a potential imbalance between incoming and outgoing transactions, which can occur during periods of high market volatility or significant news events impacting specific cryptocurrencies. This incident highlights the operational challenges faced by large crypto exchanges in managing user funds and transaction volumes, especially during peak activity. The FSS's intervention underscores the importance of maintaining stable and reliable services for cryptocurrency users and ensuring exchanges adhere to operational standards.