Binance will temporarily suspend transactions on the Ethereum network

Binance, the world’s largest crypto exchange, has announced a temporary suspension of all cryptocurrency transactions with the Ethereum wallet. This will take place on June 27 for the duration of technical work.

#Binance will perform wallet maintenance for the @ethereum network (ERC20) on June 27, 06:00 UTC.

Deposits and withdrawals will be temporarily suspended and will reopen once the maintenance is complete.https://t.co/G233Ri0Pdt

— Binance (@binance) June 22, 2022

The suspension of transactions in ERC20 will last about two hours. According to Binance, only the input and output of ERC-20 tokens will not work. At the same time, trading operations will not be stopped. «Deposits and withdrawals will resume after the maintenance is completed,» the crypto exchange representatives said.

This is not the first short suspension of Binance transactions. Last week, the crypto exchange planned to suspend BTC withdrawals for 30 minutes (due to the accumulation of unconfirmed transactions in the mempool), but it took about several hours. Therefore, a similar situation may happen with ERC20.