Binance Suspends SEI Deposits and Withdrawals Ahead of Network Upgrade

IconCryptoNewsTerminal Staff14 Jul, 2024

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Binance Suspends SEI Deposits and Withdrawals Ahead of Network Upgrade

Binance has suspended SEI deposits and withdrawals on July 16th to facilitate the upcoming Sei (SEI) network upgrade. The suspension will take effect from 00:30 AM (UTC) on July 16th and will remain in place until the upgrade is complete. During this time, users will not be able to deposit or withdraw SEI tokens on Binance. Binance has stated that it will provide further updates on the suspension and the network upgrade as they become available. The SEI network upgrade is expected to bring a number of improvements to the platform, including increased scalability, security, and performance. The upgrade is expected to be completed within a few hours, and Binance will resume SEI deposits and withdrawals as soon as possible thereafter. In the meantime, Binance recommends that users refrain from depositing or withdrawing SEI tokens during the suspension period. Users who have already deposited SEI tokens on Binance will be able to withdraw them once the suspension is lifted.

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