The largest cryptocurrency exchange in the world, Binance, will stop withdrawals and deposits of 21 cryptocurrencies next Thursday (4). In this way, platform users who want to redeem their coins before the deadline should be vigilant.
This exchange has a habit of scheduling the maintenance of its wallets with some frequency, a procedure of which not many details are revealed about what happens during the estimated period for the activity.
Even so, users expect this procedure to improve the security of intermediation and the service to users, following the best security practices in the intermediation market.
It is worth remembering that in the cryptocurrency market it is not recommended to leave any balance in exchangesand it is better to keep the values in safe wallets, since only then is custody guaranteed.
Binance will stop withdrawals of 21 cryptocurrencies next Thursday
In a communication to customers made this Monday (1), Binance clarified that a new wallet maintenance will be carried out in the coming days.
The procedure will take place next Thursday (4), at 1am in Colombia, withdrawals of 21 cryptocurrencies for customers will be stopped. The expectation according to the Binance note is that the maintenance lasts a maximum of 2 hours.
“Binance will perform wallet maintenance for the networks listed below on 2022-08-04 06:00 (UTC). The maintenance will take about two hours.”
Withdrawals start to be blocked 5 minutes before the start of maintenance. That is, users who may need their cryptocurrencies should be vigilant and withdraw earlier.
After the maintenance is over, Binance will reopen withdrawals and stated that it will not make any further announcements regarding the procedure.
Among the cryptocurrencies that will have withdrawals blocked on Binance, the following stand out: Cardan (ADA), Sunshine (SUN) Y Tezos (XTZ)which are among the 21 cryptocurrencies under maintenance.
List of cryptocurrencies that will have withdrawals blocked by Binance on August 4. Source: Binance
The last maintenance was an emergency
It should be noted that this will be the third wallet maintenance carried out by Binance in the last 3 weeks. That’s because, on July 20, the exchange stopped withdrawals of Bitcoin and 63 other cryptocurrencies for maintenance.
However, a week later, on July 26, the exchange had problems with all fiat currency withdrawals worldwide, including the Brazilian real.
In this way, the technical team of the exchange, which has a large trading volume, rushed to perform emergency maintenance and released withdrawals for clients again. With the new advance announcement, everything indicates that this Thursday the loot block will be for a routine update.