Last Updated on July 6, 2023 by COINBUZZFEED
In an effort to provide enhanced efficiency and improved fund security for its users, Binance, one of the leading cryptocurrency exchanges, has been diligently upgrading its wallet infrastructure. As part of this upgrade process, Binance has recently announced the retirement of selected deposit addresses and memos in batches, categorized by networks.
To ensure a seamless transition, Binance will be sending out inmail notifications to impacted users in batches. It is strongly advised that all affected users promptly obtain a new deposit address and memo (if applicable) upon receiving the official notification from Binance. The network addresses scheduled for migration in the third quarter of 2023 (July – September) include various cryptocurrencies.
It is important to note that users who have not received an official notification from Binance should continue using their current deposit address. Only those users who receive notifications are required to obtain a new deposit address and memo (if applicable) before the specified expiry date. The expiry date will be clearly mentioned in the notification. Once users obtain a new address, the old deposit addresses will automatically expire.
Rest assured, any funds deposited into the expired addresses will remain safe and will not be lost. Users can manually credit the deposits by accessing the “Transaction History” page on the Binance platform. However, it is crucial to understand that deposits made into expired deposit addresses will not be automatically credited.
To obtain a new deposit address and memo (if applicable), users can conveniently log into their Binance accounts through the Binance mobile app or website
