Binance, the world’s largest cryptocurrency exchange by trading volume, announced a planned system update for account services on September 25, 2024, at 09:30 (UTC). The update is expected to last approximately three hours, during which users may experience brief interruptions in service. The primary goal of the system update is to enhance overall system performance and stability.
Which Binance Services Will Be Affected by the Update?
During the update, all services on the Binance exchange may experience interruptions. These interruptions will affect account logins, new account registrations, spot and margin trading, futures transactions, P2P operations, VIP account services, and other account-related features.
It has been reported that interruptions may last only a few minutes for each user. However, users experiencing downtime will be able to access Binance products shortly afterward.
Binance emphasized that users’ data and assets will not be affected during this period. Additionally, transactions made via API will remain unaffected by the update process. However, users may not be able to log into their accounts or perform trades during this time.
Precautions to Avoid Risks During the Update
To minimize risks and potential losses during the update, Binance advises users to carefully review their open positions and orders. Specifically, measures such as reducing leverage, adding collateral to positions, and even closing positions may be necessary. The cryptocurrency exchange stated that it will not be responsible for any potential losses during the update process.
Binance also noted that the estimated duration for the update is subject to change. Once the update is complete, all affected functions will be reactivated. Binance reminded users to exercise caution and take necessary precautions during the update and indicated that no further announcements regarding the system update would be made.
