The cryptocurrency exchange Binance has announced a temporary suspension of deposits and withdrawals for the altcoin IoTeX (IOTX) due to a scheduled network upgrade and hard fork. The suspension will commence around 03:28 AM Turkish Standard Time (TST) on June 19, 2025. Binance has taken this measure to ensure a smooth user experience during the upgrade, while trading of IOTX will continue uninterrupted throughout the process.
Full Support from Binance for IoTeX Upgrade
In a show of support for the IoTeX team’s planned network upgrade and hard fork, Binance has made an operational decision to pause deposit and withdrawal services for IOTX at the specified time and date. This preventive measure aims to ensure the network upgrade is completed safely and smoothly.
During this time frame, users will not be able to deposit or withdraw their IOTX coins to or from the Binance exchange. Nonetheless, this restriction applies solely to deposits and withdrawals. Binance reassured that IOTX trading in spot and other markets would continue without interruption.
The temporary suspension is set to begin at around 03:28 AM TST on June 19, 2025, roughly one hour before the block height necessary for the upgrade is reached. Binance has allotted this preparation time to facilitate user convenience and prevent potential transaction losses.
Transactions to Resume Post-Upgrade Completion
The network upgrade and hard fork process will be triggered the moment the IoTeX Blockchain network reaches block number 36,893,881. Binance anticipates achieving this critical block height at approximately 04:28 AM TST on June 19, 2025. This technical process involves changes to the core protocol of the IoTeX network.
Binance has assured its users that the technical team will manage all aspects and requirements of this process. Users will not be required to take any additional actions or manage their IOTX coins differently. The exchange also ensures the security of user assets as well as operational continuity.
The exact time for the resumption of deposits and withdrawals will not be announced separately and will depend on the stability of the updated IoTeX network. Once Binance confirms the network’s stability, transactions will quietly resume. There will be no separate announcement about the restart of transactions.
