Announcement from Binance regarding the temporary suspension of IoTeX Token (IOTX) deposit and withdrawal services
IoTeX Network Upgrade Event
On June 18, Binance officially announced the plan to temporarily suspend the deposit and withdrawal of Tokens from the IoTeX network (IOTX). The estimated time will begin at 08:28 (Eastern Time) on June 19, 2025. This is to support the network upgrade process and implement a hard fork, ensuring sustainable development for the project based on the cryptocurrency platform.
Time to suspend services
The suspension will begin at block number 36,893,881, estimated at 09:28 AM EST on June 19, 2025. During this time, users will not be able to deposit or withdraw IOTX Tokens to ensure safety and avoid data loss during the upgrade process.
Purpose of the IoTeX Network Upgrade
This upgrade will help the IoTeX ecosystem optimize scalability, enhance security, and improve transaction processing capability. Along with implementing a hard fork at the target block, the project aims to integrate new features, optimize smart contracts, and improve interaction between DApps in the cryptocurrency ecosystem.
Advice for users and investors
During this phase, users should pay attention to official announcements from Binance and other reliable sources about the reopening of services. To avoid risks, do not perform deposit, withdrawal, or trading of IOTX during the network upgrade. This helps ensure that your assets are always safe and avoids unwanted incidents.
Conclusion
The upgrade of the IoTeX network at block height 36,893,881 is an important step for this cryptocurrency ecosystem. The estimated downtime is only a few hours, allowing the system to complete new features and strengthen the security of the network. Users should prepare thoroughly to avoid disruption of activities related to the IOTX Token during this upgrade phase.
Source: https://tintucbitcoin.com/binance-nang-cap-mang-iotex-chuan-bi-hard-fork/
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