Binance Temporarily Halts SEI Deposits and Withdrawals for Network Upgrade

Binance will temporarily halt Sei (SEI) token deposits and withdrawals starting at 07:00 UTC+8 on August 7, 2025, to support a network upgrade. The maintenance coincides with the Sei network’s scheduled upgrade at block height 160,945,710, estimated to occur around 00:00 UTC on August 5, 2025 [1]. During the suspension, users will be unable to deposit or withdraw SEI tokens, although trading of SEI and related tokens on the exchange will continue uninterrupted. Binance has not specified a timeline for when the services will resume, emphasizing that deposits and withdrawals will be restored immediately after the network stabilizes.

The network upgrade aims to improve transaction throughput and enhance security protocols [2]. According to the update, the Sei network will see a 30% increase in transaction processing capacity and the introduction of an improved consensus mechanism. These changes are intended to strengthen the network’s resilience against attacks and better support growing user demand. While Binance handles the technical execution of the upgrade, users are advised to complete any pending deposits or withdrawals before the suspension begins at 07:00 UTC+8 to avoid disruptions.

This action highlights Binance’s active role in supporting blockchain infrastructure improvements. Similar to past upgrades, the temporary suspension of deposit and withdrawal functions is a common practice to ensure the smooth implementation of network enhancements. However, the lack of a defined timeline for service restoration means users must remain vigilant and monitor Binance’s official communication channels for real-time updates.

From a broader industry perspective, the Sei network upgrade reflects the increasing collaboration between exchanges and blockchain developers to enhance protocol performance and security. As decentralized finance continues to evolve, such upgrades are essential for maintaining network efficiency and user confidence. While the maintenance period may introduce short-term liquidity constraints for SEI token holders, the long-term benefits—such as faster transaction confirmations and improved security—are expected to outweigh these temporary inconveniences.

Binance has not indicated any compensation or incentives for users affected by the suspension, following its standard approach to maintenance-related interruptions. Market participants are advised to adjust their strategies accordingly and ensure that they have sufficient liquidity outside the affected period. The upgrade also underscores the importance of clear communication and transparency in blockchain operations, as users must be prepared for potential limitations in fund transfers.

As the date of the upgrade approaches, any unexpected delays or complications could have cascading effects on services and platforms that depend on the Sei network. Therefore, continuous monitoring of Binance’s official announcements is recommended for users to navigate the transition smoothly.

Binance has consistently played a pivotal role in facilitating major blockchain upgrades, aligning with its strategy to support high-potential projects through operational and technical assistance. This latest action reinforces its commitment to maintaining the stability and scalability of the ecosystems it hosts, even as it avoids promoting the upgrade as a driver of market activity.

Users are encouraged to plan ahead and ensure that their transactions are executed before the suspension period begins. By doing so, they can mitigate the risk of delays and ensure a smoother experience when the deposit and withdrawal functions become available again.

[1] title: Binance will suspend token deposits and withdrawals on ... (https://followin.io/en/feed/19124245)

[2] title: $TOWNS added to Binance hodler airdrops (https://followin.io/en/feed/19123647)

[3] title: Binance to Support Sei (SEI) Network Upgrade, Temporarily Halts ... (https://blockchain.news/Profile/Rebeca-Moen)