Binance to Temporarily Suspend Transactions on Polygon Network for Upcoming Upgrade

Binance today announced This suspension includes a halt on deposits and withdrawals of tokens across the Polygon network, as a significant upgrade is set to occur soon. MATIC The Polygon team is gearing up to implement this critical upgrade, affecting the Proof of Stake block level of the Heimdall network, aiming for a specific block height of 15,950,759, with a target date of October 13, 2023. Owing to the magnitude of this upgrade,

Binance has decided to pause related transactions as a safeguard. The suspension will kick off at 7:00 PM Eastern Time on the specified date. PoS Users of Binance will notice a disruption in the deposit and withdrawal features tied to the network, although token trading will continue unaffected. Binance advises its users to prepare accordingly in advance of this suspension and assures them of support should any technical issues arise. Binance Once the Polygon network upgrade is finalized and demonstrates stable performance, Binance will quickly reinstate the services for deposits and withdrawals related to the tokens. The exchange has expressed that no further confirmation will be issued regarding the resumption, indicating their confidence in a seamless transition.

For those interested in delving deeper into the specifics of this upgrade, the Polygon official project announcement is a valuable resource. Binance wrapped up its statement by extending gratitude to users for their ongoing support and understanding.

It's important to recognize that the information on this page does not serve as legal, tax, investment, financial, or other professional advice. Make sure to only invest what you can afford to lose, and seek independent financial counsel if you're uncertain. For additional information, we recommend checking the terms and conditions as well as the help and support resources offered by the publisher or advertiser. MetaversePost is devoted to providing accurate and unbiased reporting, but be aware that market conditions can change at any moment.

Nik, a seasoned analyst and writer at Metaverse Post, excels in providing cutting-edge insights into the rapidly evolving technology scene, particularly in areas like AI/ML, XR, VR, and blockchain analytics. His engaging articles resonate with a wide audience, helping them stay ahead in the tech landscape. With a Master's degree in Economics and Management, Nik has a profound understanding of the business realm and its interplay with emerging technologies.