Binance Suspends FIRO Deposits and Withdrawals Temporarily for Network Upgrade and Hard Fork

Binance Suspends FIRO Deposits and Withdrawals Temporarily for Network Upgrade and Hard Fork

Binance, the world’s leading cryptocurrency exchange, has suspended deposits and withdrawals for FIRO, a privacy-focused cryptocurrency, due to an upcoming network upgrade and hard fork. This suspension will commence on September 16th at 13:00 (UTC) and is estimated to last until the upgrade and hard fork are complete. During this suspension period, users will not be able to deposit or withdraw FIRO from their Binance accounts. However, trading of FIRO will continue as usual, and users can still buy, sell, and trade FIRO on the Binance platform. The FIRO network upgrade is scheduled to take place on September 16th, which will introduce several improvements and enhancements to the network. The hard fork, which is expected to occur shortly after the network upgrade, will result in the creation of a new FIRO blockchain. Binance has stated that it will fully support the FIRO network upgrade and hard fork, and that all deposits and withdrawals will be credited to the correct accounts once the suspension is lifted. Users who hold FIRO on Binance do not need to take any action, as their funds will be automatically updated after the upgrade and hard fork. The suspension of FIRO deposits and withdrawals is a temporary measure to ensure the smooth implementation of the network upgrade and hard fork. Binance regularly performs such maintenance to enhance the security and functionality of the platform and its supported cryptocurrencies. Users are advised to monitor Binance's official announcements and social media channels for the latest updates on the resumption of FIRO deposits and withdrawals.