Binance Halts IoTeX Deposits Withdrawals for Network Upgrade

Binance, a prominent cryptocurrency exchange, has announced a temporary suspension of deposits and withdrawals for the altcoin IoTeX (IOTX) starting at 03:28 AM Turkish Standard Time (TST) on June 19, 2025. This measure is in response to a scheduled network upgrade and hard fork for IoTeX, aimed at ensuring a smooth user experience during the transition.

In support of the IoTeX team's planned network upgrade, Binance has decided to pause deposit and withdrawal services for IOTX at the specified time. This preventive action is intended to safeguard the network upgrade process, ensuring it proceeds without disruptions. The suspension is limited to deposits and withdrawals, with IOTX trading in spot and other markets continuing uninterrupted.

The temporary suspension is scheduled to begin approximately one hour before the block height necessary for the upgrade is reached. This preparation time is allocated to facilitate user convenience and prevent potential transaction losses. The network upgrade and hard fork process will be triggered once the IoTeX Blockchain network reaches block number 36,893,881, anticipated to occur at around 04:28 AM TST on June 19, 2025. This technical process involves changes to the core protocol of the IoTeX network.

Binance has assured its users that the technical team will handle all aspects of the upgrade process. Users are not required to take any additional actions or manage their IOTX coins differently. The exchange has also emphasized the security of user assets and operational continuity throughout the upgrade. The exact time for the resumption of deposits and withdrawals will depend on the stability of the updated IoTeX network. Once Binance confirms the network’s stability, transactions will quietly resume without a separate announcement.

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