Binance crypto exchange gives its users a heads-up about some upcoming wallet maintenance that could affect their deposits and withdrawals.
Binance is scheduled to perform routine wallet maintenance on the Ethereum network (specifically, the ERC20 part) on October 24, 2023, starting at 7:00 a.m. UTC. This maintenance is expected to take around two hours.
On the day of the maintenance, starting at 6:55 a.m. UTC, deposits and withdrawals on the Ethereum network (ERC20) will be temporarily suspended.
The Binance team clarified that users’ ability to trade digital assets on the Ethereum network (ERC20) will not be affected during this maintenance period.
It’s all part of keeping things running smoothly and securely. Binance is no stranger to these maintenance routines, as they recently did the same thing for the Tron network on October 18th.
In addition, Binance noted that if users noticed some large transactions from Binance’s TRX hot wallet, it was all part of the plan, and there was no need to panic.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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