Binance Warns About Temporary Suspension of Ether Withdrawals
Reading Time: < 1 minute
On October 24, Binance will temporarily halt the withdrawal of ether and prohibit deposits in this cryptocurrency. This decision has been communicated to all investors by the Binance press team.
The suspension of ETH operations is necessary to conduct technical maintenance on wallets supporting ERC-20 standard tokens. From 07:00 UTC, users will not be able to deposit or withdraw ETH for a duration of two hours.
This suspension is deemed necessary after reports in June of institutional investors preparing for potential bankruptcy of Binance, citing concerns over regulatory pressure and market decline leading to capital outflows from virtual currencies, potentially impacting the income of all trading platforms, including Binance.
Follow and like us on
