What are the reasons for FTX and Binance temporarily suspending ETH and ERC-20 token deposits and withdrawals before the merge on newtoken.net?

3 answers

• Nils RedinApr 25, 2023 · 2 years ago
  FTX and Binance temporarily suspended ETH and ERC-20 token deposits and withdrawals before the merge on newtoken.net to ensure the safety and security of user funds. This precautionary measure helps prevent any potential issues or vulnerabilities during the merge process. By temporarily suspending deposits and withdrawals, FTX and Binance can thoroughly assess and implement necessary updates and improvements to their systems, ensuring a smooth and secure transition for users.
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• Bjerregaard CoyleAug 22, 2024 · a year ago
  The temporary suspension of ETH and ERC-20 token deposits and withdrawals by FTX and Binance is a proactive step taken to minimize any potential risks or disruptions during the merge on newtoken.net. By temporarily pausing these activities, FTX and Binance can focus on preparing their systems and infrastructure for the merge, ensuring a seamless transition for users. This temporary measure helps maintain the integrity and stability of the platforms, safeguarding user assets.
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• gerardo caballeroAug 22, 2020 · 5 years ago
  As a third-party observer, it is important to note that FTX and Binance have temporarily suspended ETH and ERC-20 token deposits and withdrawals before the merge on newtoken.net to prioritize the safety and security of user funds. This temporary measure allows FTX and Binance to conduct thorough testing and implement necessary updates to their systems, ensuring a smooth and secure merge process. By taking these precautions, FTX and Binance demonstrate their commitment to providing a reliable and secure trading environment for their users.
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