Binance implemented a temporary suspension of deposits and withdrawals for the RUNE token to facilitate a THORChain network upgrade aimed at bolstering security and operational stability. The halt, which began at the scheduled UTC time, remained in effect until upgrade completion to prevent potential network forks, transaction inconsistencies, and security vulnerabilities during the transition.
THORChain functions as a decentralized liquidity protocol enabling cross-chain asset swaps without intermediary custody. The network upgrade targeted critical improvements in security infrastructure, functional capabilities, and overall system scalability.
During the suspension period, Binance advised RUNE holders against initiating deposit or withdrawal transactions and recommended monitoring official channels for resumption updates. The exchange confirmed existing user balances remained fully secured and unaffected by the temporary service interruption.