Binance, one of the world's leading cryptocurrency exchanges, is carrying out a comprehensive update to its wallet infrastructure to increase efficiency and strengthen fund security for its users.
Binance Will Retire Selected Deposit Addresses and Notes as Part of Wallet Infrastructure Upgrade
As part of this initiative, Binance announced that it will retire selected deposit addresses and notes into groups categorized by networks.
The deprecation of deposit addresses and notes is scheduled to occur in the third quarter of 2023, covering the period from July to September.
Affected networks include BTC (Bitcoin), BCH (Bitcoin Cash), XRP (Ripple), SOL (Solana), XMR (Monero), LTC (Litecoin), ADA (Cardano), DOGE (Dogecoin), DOT (Polkadot), FIL (Filecoin), ALGO (Algorand), AVAX (Avalanche) and more.
To ensure a smooth transition for users, Binance will send bulk email notifications to people affected by the deprecation of deposit addresses and notes.
All users who receive these notifications are strongly advised to take immediate action to receive new addresses and notes, if any, so that they can continue to use the platform uninterrupted.
By upgrading its wallet infrastructure, Binance aims to provide users with higher efficiency and higher security for their funds.
These upgrades demonstrate the exchange's commitment to maintaining a robust and reliable trading environment, keeping up with technological advances, and protecting user assets.
*Not investment advice.