Binance Suspends CFX Deposits and Withdrawals Ahead of Conflux Network Upgrade

Binance, one of the world's largest cryptocurrency exchanges, has announced a temporary suspension of deposits and withdrawals on the Conflux network for its native token, CFX. The suspension is scheduled to begin at 11:00 p.m. UTC on August 24, aligning with the network's upcoming upgrade and hard fork.

The suspension is a standard precautionary measure taken by exchanges during network upgrades and hard forks. Such events often involve changes to the underlying blockchain protocol, which can temporarily affect transaction processing and network stability.

Binance will resume deposits and withdrawals once the Conflux network upgrade is completed and the network is confirmed to be stable.