Binance Pauses RUNE Activity to Fortify THORChain's Security and Future Growth

Binance has announced a temporary suspension of RUNE deposits and withdrawals from July 31, 2024, to support a critical network upgrade on THORChain. This decision aims to ensure the stability and security of the upgrade process, preventing transaction errors and safeguarding user assets during the transition. The suspension will remain in effect until network stability is verified, with services resuming once the upgrade is confirmed successful.

The upgrade is expected to enhance THORChain’s efficiency, scalability, and security. Improvements include faster transaction speeds, reduced fees, and expanded DeFi functionality for users. As a decentralized liquidity protocol, THORChain relies on the native RUNE token to secure its network and facilitate cross-chain swaps. These enhancements align with broader industry trends of optimizing blockchain performance and improving user experience.

Users are advised to refrain from initiating any RUNE-related transactions during the suspension period and to monitor official Binance communications for updates. The timing of the resumption will depend on the success of the upgrade and the exchange’s internal verification process. Best practices include completing necessary transactions prior to the suspension or using alternative platforms or self-custody solutions for urgent transfers, while ensuring due diligence to avoid asset risks.

The coordinated action between Binance and THORChain highlights the importance of transparency and communication in the cryptocurrency ecosystem. By prioritizing network stability and user security, such measures reinforce trust and reduce disruptions. The suspension also reflects industry-wide efforts to strengthen infrastructure against potential vulnerabilities, underscoring the critical role of collaboration between exchanges and blockchain protocols.

This upgrade follows a series of protocol enhancements from THORChain in the first half of 2025, including streaming swaps, extended UTXO routing, and initial Monero support. These upgrades improved cross-chain liquidity and trading efficiency. Looking ahead, the SynthVaults engine and cross-chain lending markets are expected to further expand the platform’s DeFi capabilities, potentially driving increased volume and TVL.

Binance will also support another major network upgrade and hard fork on September 18, 2025. At that time, deposits and withdrawals of all tokens on the THORChain network will be temporarily suspended to ensure a smooth transition. Trading of RUNE tokens will remain unaffected, and the exchange emphasized that no further announcements will be issued regarding the resumption of services. Users are advised to stay informed about network developments to avoid unnecessary complications during these transitions.