Binance Halts Deposits and Withdrawals for Select Tokens Pre-Ethereum Upgrade

Binance hits pause on ETH-based token movements as the network braces for its next big upgrade. Traders scramble while the exchange plays it safe—because nothing says ’decentralized future’ like a centralized platform calling timeout.

Which tokens got sidelined? No official list yet, but smart money’s on the usual ERC-20 suspects. Pro tip: check your wallets before the cutoff unless you enjoy liquidity crises.

The upgrade promises scalability improvements (again), but let’s be real—Wall Street still thinks ’gas fee’ refers to their summer Hamptons fuel bill.

Past and Future Network Upgrades

The crypto exchange will also suspend the withdrawals and deposits for the Optimism and Metal DAO networks on May 9. Once the update is completed, withdrawals and deposits will begin automatically without additional announcements.

Previously, the crypto exchange has temporarily disabled deposit and withdrawal functions across various networks to facilitate upgrades and hard forks. For instance, transactions involving tokens on the THORChain (RUNE) network were paused on May 1 at 14:00 (UTC) to support a scheduled upgrade.

Similarly, on May 5, at around 06:00 (UTC), Binance suspended deposits and withdrawals for tokens on the IPTA network to accommodate its network enhancement and hard fork.

Binance to Suspend Deposits and Withdrawals for Certain Tokens Ahead of Ethereum Upgrade