Binance is temporarily suspending withdrawals on the *SOL* network, effective since March 4, 2024. The interruption is attributed to the heightened transaction volume experienced on the network, prompting Binance to take necessary measures.
Binance, in its statement, acknowledges the inconvenience caused by the intermittent suspension and assures users that efforts are underway to rectify the issue. The exchange has identified specific areas for optimization on the Solana network and is actively working to implement a stable, long-term solution. The anticipated date for the implementation of this solution is set for March 9, 2024, at 18:00 (UTC).
HahahahahaSolana broke Binance They can't keep up with the withdrawals. pic.twitter.com/HCcRyE7ejV
— gnarleyquinn.sol (@gnarleysol) March 6, 2024
Ethereum Network Also Pulled Down
In a separate but related announcement, Binance also paused activities on the Ethereum Network (ERC-20). The maintenance is lasted approximately 2 hours. During this period, both deposits and withdrawals on the Ethereum network (ETH) were temporarily suspended).
Reminder – wallet maintenance for the Ethereum network has begun.Please note that all deposits and withdrawals on the $ETH network will be suspended for an estimated period of 2-hours.Deposits and withdrawals will resume once the maintenance is complete.
— Binance (@binance) March 6, 2024
Binance encourages its users to plan their activities accordingly, taking into consideration the temporary suspension of *ETH* network transactions during the maintenance window.
