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Binance to Temporarily Suspend Withdrawals on BNB Chain on This Date, Here's Why

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Thu, 4/07/2024 - 14:50
Binance to Temporarily Suspend Withdrawals on BNB Chain on This Date, Here's Why
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In a significant development for BNB Chain users, Binance has announced that it will temporarily suspend withdrawals on the BNB Beacon Chain to facilitate wallet maintenance and network upgrades/hard forks.

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In preparation for the BNB Beacon Chain (BEP2) network upgrade and hard fork, Binance will perform wallet maintenance for BNB Beacon Chain (BEP2) on a stated date.

Wallet maintenance for the BNB Beacon Chain (BEP2) is scheduled for July 9, 2024, at 7:00 a.m. (UTC). To support wallet maintenance, Binance will suspend deposits and withdrawals on the BNB Beacon Chain (BEP2), starting from 6:55 a.m. (UTC) on the same day. The suspension is expected to last for the duration of the maintenance, which is estimated to be around two hours.

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The BNB Beacon Chain (BEP2) network upgrade and hard fork are set to occur on July 14, 2024, at 6:00 a.m. (UTC). In preparation for this event, Binance will again suspend deposits and withdrawals of tokens on the BNB Beacon Chain (BEP2) starting from approximately 5:55 a.m. (UTC) on the aforementioned date.

This temporary suspension is crucial for Binance to align its systems with the new network changes and to ensure that the hard fork proceeds without any technical hitches.

In this light, users of BNB Beacon Chain (BEP2) are advised to plan their activities accordingly and to stay informed about the status of the network upgrade through official channels to avoid potential disruptions.

As indicated by the project team in January 2024, BNB Beacon Chain (BEP2) is facing a phaseout, with Binance taking definitive steps in this direction since the year's start.

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