Binance Upgrades Wallet Infrastructure to Enhance Efficiency and Fund Security

Binance Upgrades Wallet Infrastructure to Enhance Efficiency and Fund Security

Binance, a renowned cryptocurrency exchange, is undergoing upgrades to its wallet infrastructure to provide users with enhanced efficiency and fund security. In this process, selected deposit addresses and memos will be gradually retired, and affected users will receive inmail notifications regarding these changes.

Users are encouraged to obtain new addresses and memos once they receive the notifications. However, it’s important to note that funds deposited into the retired addresses will remain safe and can still be manually credited.

With the aim of offering improved efficiency and advanced security measures, Binance has announced significant upgrades to its wallet infrastructure. This phased retirement of specific deposit addresses and memos will take place across different networks, and users will be notified accordingly.

To facilitate a smooth transition, Binance strongly recommends that users obtain new deposit addresses and memos as specified in the official notification. Users who haven’t received any notification are advised to continue using their current deposit addresses without making any changes.

The retirement of old deposit addresses and memos will only affect users who receive specific notifications from Binance, and the expiration date of the old addresses will be clearly stated in the notifications. It is reassuring to know that funds deposited into these addresses will remain secure, and users can manually credit their deposits by accessing the “Transaction History” page on the platform.

Affected users can conveniently obtain new deposit addresses and memos (if applicable) by logging into their Binance accounts through the Binance app or website. This wallet infrastructure upgrade demonstrates Binance’s ongoing commitment to enhancing user experience and security, streamlining operations, and creating an even more secure environment for cryptocurrency transactions.

These improvements highlight Binance’s dedication to maintaining the highest standards of service and ensuring the protection of user funds. Despite regulatory challenges in different regions, Binance remains a leading cryptocurrency exchange in the industry.

As reported by Coincu, starting from 08:00 UTC on July 7 until further notice, the exchange will temporarily suspend support for the deposit and withdrawal of Multichain cross-chain bridge tokens created over the specified network.