1. BITBILIHome
  2. Article

Binance takes precautionary measures, halts withdrawals, and deposits for Multichain tokens

• 182 views

TL;DR Breakdown

  • Binance temporarily suspends withdrawals and deposits for Multichain-bridged assets.
  • Polkastarter (POLS), Alchemy Pay (ACH), Beefy.Finance (BIFI) and SuperVerse (SUPER) are among the affected tokens.
  • Ethereum’s Travala (AVA) and Spell Token (SPELL) transactions were impacted.

Description

Binance, the leading cryptocurrency exchange, recently temporarily stopped processing withdrawals and deposits for several Multichain-bridged assets. In a Twitter post, the platform stated that these restrictions would take effect from the 7th of this month and remain in place for the foreseeable future. This move comes in response to issues encountered with the Multichain (MULTI) … Read more

Binance, the leading cryptocurrency exchange, recently temporarily stopped processing withdrawals and deposits for several Multichain-bridged assets. In a Twitter post, the platform stated that these restrictions would take effect from the 7th of this month and remain in place for the foreseeable future. This move comes in response to issues encountered with the Multichain (MULTI) protocol, prompting Binance to take precautionary measures.

Tokens tied to Polkastarter (POLS) on the BNB Smart Chain are affected, rendering them temporarily unavailable for trading on the platform. Additionally, deposits and withdrawals using Alchemy Pay (ACH) on the BNB Smart Chain will be temporarily suspended. The Beefy.Finance (BIFI) token and the Fantom Network are also impacted, with users unable to perform any BNB Smart Chain transactions. Furthermore, SuperVerse (SUPER) users will face limitations on BNB Smart Chain deposits and withdrawals.

Moreover, the Ethereum Network transactions involving the Travala (AVA) cryptocurrency are currently unavailable. Similarly, the Spell Token (SPELL) is impacted when entering or exiting the platform via the Avalanche C-Chain. Furthermore, Binance has temporarily ceased support for deposit and withdrawal services of the Alpaca Finance (ALPACA) token on the Fantom Network. The Harvest Finance (FARM) token can not access these services on the BNB Smart Chain.

In a blog post on May 24, Binance highlighted the similarities between this temporary ban and a previous restriction imposed by the platform. Given the recent issues encountered with the Multichain protocol, Binance has prioritized user safety and security by implementing these precautionary measures. While the exchange has not provided a specific timeline for lifting the ban, it remains committed to resolving the underlying concerns and restoring full functionality for the affected assets.

Overall, Binance’s decision to temporarily halt withdrawals and deposits for Multichain-bridged assets aims to safeguard user interests and maintain the platform’s integrity. Binance proactively addresses the challenges these specific tokens and networks face by taking prompt action. Users can expect Binance to continue monitoring and resolving the issues at hand to ensure a seamless trading experience on the exchange.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Binance takes precautionary measures, halts withdrawals, and deposits for Multichain tokens

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月7日 06:46
Next 2023年7月7日 08:00

Related articles

  • Shibarium Network Resumes Operations: A Deep Dive into the Recent Halt

    TL;DR Breakdown Shiba Inu’s Layer-2 Shibarium network temporarily halted block production due to overwhelming traffic but resumed operations with enhanced scaling measures. The market reacted with a significant selloff of SHIB, BONE, and LEASH tokens, but prices began to rebound as the network stabilized and the team took proactive steps. Description The cryptocurrency world is no stranger to volatility and unexpected events. The recent hiccup in the operations of Shiba Inu’s Layer-2 Shibarium network is a testament to this. After a brief pause in block production, Shibarium is back, and the market is reacting. Here’s a comprehensive look at what transpired, the reasons behind it, and … Read more The cryptocurrency world is no stranger to volatility and unexpected events. The recent hiccup in the operations of Shiba Inu’s Layer-2 Shibarium network is a testament to this. After a brief pause in block production, Shibarium is back, and the market is reacting. Here’s a comprehensive look at what transpired, the reasons behind it, and the subsequent market response. Contents hide 1 The Unanticipated Halt: What Happened to Shibarium? 2 Addressing…

    Article 2023年8月19日

  • Everything you need to know about the U.S. govt shutdown

    Description Here we are again. America, the land of the free and the home of… government shutdowns? As the clock ticks down to another potential shutdown, there’s an air of frustrating déjà vu. The U.S. government is dangling on the precipice of another pause, and it feels like the same old story, only with new players … Read more Here we are again. America, the land of the free and the home of… government shutdowns? As the clock ticks down to another potential shutdown, there’s an air of frustrating déjà vu. The U.S. government is dangling on the precipice of another pause, and it feels like the same old story, only with new players and a different script. The Tensions Behind the Curtain The power play in Washington seems to be stuck on repeat. Congress has a mere week to agree on a spending plan, and the lines in the sand are getting deeper. With the House of Representatives grasped by the Republicans, and the Senate under the Democrats, the two can’t seem to find middle ground. It’s not just…

    Article 2023年9月25日

  • How top U.S. banks are cashing in on rate hikes

    TL;DR Breakdown JPMorgan Chase, Citigroup, and Wells Fargo saw increased profits due to the Federal Reserve’s interest rate hikes. These banks raised loan charges while managing to avoid significant increases in the interest paid to depositors. Higher rates put pressure on borrowers, triggering worries about potential loan defaults. Description The financial landscape of the U.S. is experiencing a remarkable shift as three banking titans, JPMorgan Chase, Citigroup, and Wells Fargo, collectively recorded a net interest income of $49bn in the second quarter. This financial windfall is largely attributed to the recent surge in loan charges, sparked by a series of interest rate increases initiated … Read more The financial landscape of the U.S. is experiencing a remarkable shift as three banking titans, JPMorgan Chase, Citigroup, and Wells Fargo, collectively recorded a net interest income of $49bn in the second quarter. This financial windfall is largely attributed to the recent surge in loan charges, sparked by a series of interest rate increases initiated by the Federal Reserve. Riding the wave of rate rises The amplified profits of these major U.S. banks…

    Article 2023年7月16日

  • Australia adopts a tech-agnostic approach to define digital assets

    TL;DR Breakdown Australian Treasury has said that it will take a tech-agnostic approach toward defining digital assets. The country continues to carve a clear regulatory path. Description In a move aimed at establishing a comprehensive framework for digital assets, the Australian Treasury has announced that it will adopt a “tech agnostic” and “principles-based” approach to define and classify crypto assets. The initiative, known as token mapping, seeks to provide clarity and structure in understanding the function and purpose of various tokens within … Read more In a move aimed at establishing a comprehensive framework for digital assets, the Australian Treasury has announced that it will adopt a “tech agnostic” and “principles-based” approach to define and classify crypto assets. The initiative, known as token mapping, seeks to provide clarity and structure in understanding the function and purpose of various tokens within the cryptocurrency ecosystem. Australia wants to group assets by their unique characteristics Trevor Power, an assistant secretary at the Australian Treasury, revealed during Australian Blockchain Week that the token mapping framework would focus on categorizing tokens based on their unique…

    Article 2023年6月28日

  • VeChain price analysis: VET gradually enters bullish trend at $0.0157

    TL;DR Breakdown VeChain price analysis is bearish today. The strongest resistance is present at $0.0219. The trading price of VeChain is $0.0157. VeChain price analysis shows that the price of VET/USD has followed a strong upwards trend in the last 24 hours. The price of VeChain has exhibited a consistent upward trajectory, demonstrating significant growth and approaching the critical threshold of $0.016. The prevailing market sentiment is optimistic, as VeChain exhibits a favorable upward trend. Over the preceding 48-hour period, the price has gained positive momentum, escalating from $0.0152 to $0.0157, with a peak of $0.0160 observed during the course of the day. Currently, the value of VeChain stands at $0.0157. As of today, VeChain’s price stands at $0.015821, accompanied by a 24-hour trading volume of $49.12M. The cryptocurrency has a market capitalization of $1.15B, contributing to a market dominance of 0.11%. In the past 24 hours, the price of VET has increased by 1.46%. Currently, the sentiment surrounding VeChain’s price prediction is bearish, while the Fear & Greed Index indicates a neutral value of 47. VeChain’s circulating supply currently amounts…

    Article 2023年6月15日
TOP