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Cryptocurrency exchange Binance announced that it will suspend deposits for the altcoin TROY (BSC) starting January 2, 2025. This decision was made due to a potential security issue related to the TROY-BEP20 token contract. The exchange emphasized that this action was taken to ensure user security.
Binance Ends Support on BSC Network
Binance stated that it will no longer support TROY coin deposits through the BNB Smart Chain (BSC) network. The company mentioned that it attempted to communicate with the project team to verify the collateral situation concerning coins issued on the BSC network. However, it was emphasized that the project team did not provide adequate explanations regarding the matter.
The cryptocurrency exchange specified that it would only resume deposits for TROY once it is deemed secure. Additionally, it was noted that no separate announcement would be made regarding this issue.
Ethereum Network Transactions Unaffected
On the other hand, Binance announced that users can continue to deposit and withdraw TROY through the Ethereum 
$2,504 network. The cryptocurrency exchange indicated that these services are not affected by the aforementioned security concerns. Binance also added that it aims to contribute to the transparency and sustainable growth of the cryptocurrency ecosystem while prioritizing user safety.
Such actions in the cryptocurrency market are a continuing concern for users. Measures taken by major exchanges like Binance are significant for the reliability of the sector. Users must closely monitor such announcements and plan their transactions accordingly.
