Binance Halts ZIL Deposits Withdrawals for Zilliqa Network Upgrade

Binance, a prominent cryptocurrency exchange, has announced a temporary suspension of cryptocurrency deposits and withdrawals over the Zilliqa network. This decision is in response to the scheduled network upgrade and hard fork of the Zilliqa blockchain, which is set to occur at block height 4,770,087, estimated to be around 03:00 on Tuesday, June 23, 2025. The suspension will begin approximately at 02:00 on Monday, June 23, 2025, to ensure a seamless update process and maintain optimal user experience.
Binance has confirmed that it will handle all necessary technical infrastructure preparations as part of the Zilliqa network’s upgrade and hard fork. Users do not need to take any additional actions with their ZIL coin balances within their wallets or the exchange. Assets will remain secure, and the update process will be managed in the background by the exchange. During these fundamental changes to the Zilliqa network, trading of ZIL and related coins on Binance will remain unaffected. Users can continue to trade ZIL coins effortlessly, even while deposit and withdrawal processes are on hold.
Following the completion of the upgrade and hard fork, Binance will review when deposits and withdrawals over the Zilliqa network can be reinstated. It is essential for the updated network to be adequately tested for stability and reliability before resumption of services. The evaluation and preparation phase might take “up to a week”. This duration could be shorter depending on the network’s performance. Binance will not issue a separate announcement regarding the resumption of operations. Therefore, users must keep an eye on Binance’s official communication channels or check the status of the relevant network in the platform’s “Wallet” section.
This strategic pause by Binance is a proactive approach to ensuring the safety and security of its users' assets during significant network changes. The Zilliqa network upgrade is a critical event aimed at enhancing the network's scalability, security, and overall performance. By pausing trading temporarily, Binance aims to provide a seamless transition for its users, ensuring that all deposits, withdrawals, and trades are processed smoothly post-upgrade. This move underscores Binance's commitment to maintaining high standards of service and security for its global user base.
The pause will affect all ZIL-related trading pairs on the Binance platform. Users are advised to monitor their accounts and the official Binance announcements for updates on the resumption of trading activities. Binance has assured its users that all funds will remain secure during this period, and that the exchange will provide ample notice before resuming trading. This proactive measure by Binance is a testament to the exchange's dedication to user safety and the integrity of its platform. By taking a strategic pause, Binance is not only safeguarding its users' assets but also ensuring that the Zilliqa network upgrade is implemented smoothly. This approach is in line with Binance's broader strategy of adapting to technological advancements and network upgrades to provide a reliable and secure trading environment for its users.
The Zilliqa network upgrade is expected to bring several improvements, including enhanced transaction speeds, reduced fees, and increased network capacity. These upgrades are crucial for Zilliqa's long-term growth and its ability to support a wider range of decentralized applications (dApps). By supporting this upgrade, Binance is playing a pivotal role in the evolution of the Zilliqa ecosystem, demonstrating its commitment to fostering innovation in the blockchain industry. In conclusion, Binance's decision to pause trading in response to the Zilliqa network upgrade is a strategic move aimed at ensuring the safety and security of its users' assets. This proactive approach highlights Binance's dedication to maintaining high standards of service and security, while also supporting the growth and development of the Zilliqa ecosystem. Users are encouraged to stay informed and follow official announcements for updates on the resumption of trading activities.

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