Binance to Temporarily Suspend Withdrawals on BNB Chain on This Date, Here’s Why

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In a significant development for BNB Chain users, Binance Announced To facilitate wallet maintenance and network upgrade/hard fork, we will temporarily suspend withdrawals on the BNB Beacon Chain.

In preparation for the BNB Beacon Chain (BEP2) network upgrade and hard fork, Binance will be performing maintenance on BNB Beacon Chain (BEP2) wallets on the specified dates.

Wallet maintenance on the BNB Beacon Chain (BEP2) is scheduled for 7:00 AM UTC on July 9, 2024. To support the wallet maintenance, Binance will suspend BNB Beacon Chain (BEP2) deposits and withdrawals from 6:55 AM UTC on the same day. The outage is expected to last for the duration of the maintenance, which is expected to last approximately 2 hours.

The network upgrade and hard fork of the BNB Beacon Chain (BEP2) is scheduled to take place at 6:00 AM UTC on July 14, 2024. In preparation for this event, Binance will again suspend token deposits and withdrawals on the BNB Beacon Chain (BEP2) from approximately 5:55 AM UTC on the same day.

This temporary suspension is crucial to allow Binance to adjust its systems to the new network changes and ensure that the hard fork proceeds without any technical issues.

In light of this, users of the BNB Beacon Chain (BEP2) are advised to plan their activities accordingly and stay updated on the status of the network upgrade through official channels to avoid potential disruptions.

As the project team indicated in January 2024, the BNB Beacon Chain (BEP2) faces a phase-out, and Binance has been taking clear steps in this direction since the beginning of the year.

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Tomiwabold Olajide

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