Binance Temporarily Suspends Ethereum Network Deposits and Withdrawals

Binance, the world's largest cryptocurrency exchange by trading volume, has announced that it will temporarily suspend Ethereum network deposits and withdrawals starting at 5:55 a.m. UTC on August 27.

The suspension is part of scheduled wallet maintenance, a routine procedure performed to ensure the security and efficiency of its infrastructure.

During this time, trading on Binance will not be affected, but users can still hold and trade their assets on the platform. Deposits and withdrawals of $ETH and ERC-20 tokens on the Ethereum network will be paused.

Binance has stated that the suspension is temporary and will be lifted once maintenance is complete, although a specific end time was not provided.