Binance Issued Alert for Ethereum (ETH) Transactions on December 9th!

Binance, the world’s largest cryptocurrency exchange, announced that it will suspend deposits and withdrawals of Ethereum and ERC-20 tokens on December 9, 8:00 PM (UTC).

In the statement, it was stated that the suspension is related to the network update and hard fork development to be made in Ethereum.

Binance stated that they have taken some measures to reduce the trading risks caused by price volatility in the cryptocurrency market and to ensure the safety of user funds during the update.

  • Deposits and withdrawals of all tokens in the ETH network will be suspended from approximately 2021-12-09 19:55 (UTC).
  • Spot trading of ETH and other ERC-20 tokens will not be affected. Please make sure you take adequate risk precautions as price volatility is often high during contentious hard forks.
  • ETH cross and isolated margin trading will not be affected. However, Binance will suspend ETH borrowing from 2021-12-08 08:00 (UTC) until approximately 2021-12-09 23:59 (UTC). Please note that liquidations are possible under extreme price volatility.
  • Trading of USDⓈ-M and COIN-M ETH Futures Contracts will continue unaffected. Please note that in the event of excessive price movements or deviations from the price index, Binance will take additional protective measures, including but not limited to:
    • Setting margin tiers including maximum leverage value, position value and sustain margin at each tier
    • Updating funding rates including interest rate, premium and ceiling funding rate
    • Changing the components of the price index
    • Using the Last Price Protected mechanism to update the Sign Price.
  • The Ethereum network upgrade and hard fork will occur at the Ethereum mainnet block height of 13,773,000. The estimated time for network and hard fork shutdown is for users’ reference only and may vary depending on block propagation times.
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