The Binance trading platform on the official resource warned ERC20 token holders about planned preventive work with Ethereum Network wallets
The largest crypto exchange in the world has announced that the deposit and withdrawal of funds in the Ethereum Network (ERC20) on August 31 from 09:25 (UTC) will be suspended until 12:25 (UTC).
After the maintenance is completed, the deposit and withdrawal of tokens will be resumed, the platform team promises. Additionally, the team will not report on the launch of Ethereum Network (ERC20) wallets. Representatives of the trading platform assured users that maintenance of wallets will not affect token trading on the Ethereum Network.
Preventive work is related to the Ethereum merger planned for September.
Binance announced last week that Ether and ERC-20 token deposit/withdrawal transactions will be unavailable from September 6 at 14:30 UTC until September 15 at 00:00 UTC. Two upgrades of the Ethereum network are scheduled for these dates: Bellatrix and Paris. The exchange team asked users to take care of the completion of all transfers of ETH and ERC-20 tokens in advance. Since the Ethereum network could be hard forked during the merge and a new token could be created, Binance has developed several possible scenarios for what to do next, up to creating a new ticker, if an alternative block chain appears as a result of the fork. In addition, Binance warned that it reserves the full right to change the course of action in the event of a split of the Ethereum blockchain.
Source: Bits
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