Per an official post, crypto exchange Binance will take extra precautions during Ethereum’s “Merge”. The platform announced a halt in ETH deposits and withdrawals across multiple networks starting tomorrow September 6th, 2022, at 2:00 UTC.
Users will be unable to deposit or take out their Ethereum (ETH) from the exchange, as mentioned, and they will lose any funds from incoming transactions. The limitation will extend from tomorrow until the mainnet deployment of “The Merge”.
This event is one of Ethereum and the crypto industry’s most anticipated events. The network will complete its transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus protocol opening the door for scalability, performance, and other updates.
“The Merge” has been tentatively scheduled for September 12th, 2022, but preparations for the event will take place in the coming week. In addition to ETH, Ethereum’s native token, Binance will halt deposits and withdrawals of its synthetic forms on...
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