Binance Temporarily Suspends ETH Deposits and Withdrawals for Wallet Maintenance

The world's leading cryptocurrency exchange, Binance, has announced two important updates concerning Ethereum and other altcoin traders.

The company will temporarily suspend deposits and withdrawals on the Ethereum network on August 27 to support wallet maintenance. The process is expected to take about one hour, after which operations will resume. Trading of tokens on the Ethereum network will not be impacted.

Binance has a history of performing routine upgrades like this without significant complications for clients. In May, it supported wallet maintenance on the Ethereum blockchain, and in June, it temporarily paused TRX deposits and withdrawals to perform a similar process. There were no reports of issues, and operations were quickly restored.

In addition to backing such upgrades, Binance is known for thoroughly reviewing all digital assets listed on its platform and removing those that fail to meet the necessary criteria. As a result, it has decided to terminate all services with ICON (ICX), Secret (SCRT), and Storj (STORJ). The delisting is scheduled for September 3, when all spot trading pairs of the aforementioned tokens will be removed.