Binance Plans Temporary Suspension of RUNE Deposits and Withdrawals Ahead of THORChain Network Upgrade
Main Idea
Binance will temporarily suspend RUNE deposits and withdrawals from July 31, 2024, to support a THORChain network upgrade, ensuring security and stability during the transition.
Key Points
1. The suspension begins on July 31, 2024, at 17:00 UTC, with resumption pending the completion of the upgrade.
2. The temporary halt aims to prevent forks, transaction mismatches, and minimize security risks during the upgrade.
3. THORChain (RUNE) is a decentralized liquidity protocol enabling cross-chain swaps without custodial intermediaries, and the upgrade will enhance its security, functionality, and scalability.
4. RUNE holders should avoid deposits and withdrawals on Binance during the suspension and monitor official announcements for updates.
5. Existing RUNE balances on Binance remain secure and unaffected by the suspension.
Description
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