Binance Halts IOTA Deposits, Withdrawals for Network Upgrade

Binance has declared that it will halt deposits and withdrawals for IOTA starting from May 5, 2025, at 14:00 (UTC+8). This temporary suspension is to accommodate a critical network upgrade and hard fork, which is scheduled to begin at 15:00 (UTC+8) on the same day. The IOTA development team is undertaking this upgrade to improve network efficiency and performance, ensuring a smooth user experience post-fork. Investors are encouraged to stay updated on these changes and adjust their strategies accordingly.

In a separate announcement, Binance has also stated that the suspension of IOTA deposits and withdrawals will commence earlier, starting from May 2, 2025, at 11:00 p.m. EDT. This precautionary measure is to ensure a seamless transition during the network upgrade, which is set to take place on May 5, 2025, at 3:00 a.m. EDT. Users are advised not to deposit IOTA during this period, as any deposits made or in progress after the suspension will not be credited to their accounts. The upgrade is expected to support over 50 exchanges and platforms, and trading of IOTA will continue uninterrupted during this time. Binance has assured users that their funds are secure and that the suspension is a routine procedure to facilitate the network upgrade. Users are advised to monitor their accounts and follow official announcements for further updates.

This network upgrade is a testament to IOTA’s dedication to advancing within the dynamic crypto landscape. By enhancing network efficiency and performance, IOTA aims to provide a more seamless and reliable experience for its users. The upgrade is part of a broader effort to improve user experience and ensure the network's continued growth and success. Investors and users are encouraged to stay informed about these developments and prepare for the changes accordingly.