![]() Furthermore, users can still withdraw these tokens through alternative networks, as their balances will remain unaffected. The representative reassured users that trading of the affected tokens on Binance will continue uninterrupted. In response to the news, a Binance representative clarified that the suspension of deposit and withdrawal services is a temporary measure. In their blog announcement, they emphasized that this action is aimed at protecting users’ funds through risk management measures. Binance’s decision adds a layer of uncertainty and disruption to the crypto landscape.īinance acknowledges the inconvenience caused by this move and attributes it directly to the ongoing challenges faced by the Multichain protocol. The discontinuation of support for these tokens has far-reaching implications for users who rely on bridged tokens across networks such as BNB Smart Chain, Fantom, Ethereum, and Avalanche blockchains. The suspension was prompted by a series of transaction failures, raising concerns and casting doubts on the reliability of the Multichain protocol. This move comes after Binance suspended deposits for multiple Multichain-bridged tokens on May 25, 2023. Among them are Polkastarter (POLS) via BNB Smart Chain, Alchemy Pay (ACH) via BNB Smart Chain, Beefy.Finance (BIFI) via Fantom Network, SuperVerse (SUPER) via BNB Smart Chain, Travala (AVA) via Ethereum Network, Spell Token (SPELL) via Avalanche C-Chain, Alpaca Finance (ALPACA) via Fantom Network, and Harvest Finance (FARM) via BNB Smart Chain. In an official blog post, Binance revealed the specific tokens impacted by this decision. More details here □ - Binance July 5, 2023 #Binance will suspend deposits and withdrawals for a number of Multichain-bridged tokens from July 7, 00:00 UTC until further notice. ![]()
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