Binance Suspends BEP2 Deposits and Withdrawals for Network Upgrade and Hard Fork

IconCryptoNewsTerminal Staff03 Jul, 2024

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Binance Suspends BEP2 Deposits and Withdrawals for Network Upgrade and Hard Fork

Binance, the leading cryptocurrency exchange, has announced that it will temporarily suspend BEP2 token deposits and withdrawals starting from July 9th, 15:55 KST. This suspension is due to the upcoming hard fork and network upgrade of BNB Beacon Chain (BEP2). During the suspension period, BEP2 token trading on Binance will not be affected. Users will still be able to trade BEP2 tokens on the platform. However, deposits and withdrawals of BEP2 tokens will not be possible until the network upgrade is completed. The network upgrade is expected to take place on July 10th. Once the upgrade is complete, Binance will resume BEP2 token deposits and withdrawals. Binance recommends that users make all necessary arrangements before the suspension period begins.

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