Binance Issues Important Upgrade Alert to Crypto Users

Binance, the world’s largest cryptocurrency exchange, has issued an important upgrade alert to its users.

In a recent announcement, Binance stated it will be performing a scheduled upgrade of account services on Sept. 25 at 6:30 a.m. (UTC). The upgrade, which will last about three hours, is intended to improve overall system performance and stability.

Binance will be performing a scheduled account services upgrade on 25 Sep 6.30am (UTC) and there may be intermittent interruptions to all services during the upgrade.

We seek your understanding as we improve to better serve you.

Read more 👇 https://t.co/V6heWJFDQ4

— Binance (@binance) September 23, 2024

Some of Binance’s services may be affected as a result of the upgrade. According to the crypto exchange, there may be intermittent interruptions to all of its services during the upgrade, including account login, registration, trading (on Spot, Margin, Futures, P2P, etc.), VIP account services and other account-related features. Binance noted that the interruptions may last a few minutes for each user, after which they would be able to access Binance products again shortly.

The upgrade will not, however, affect users’ data or assets, which will remain safe and secure. Trading via API will also not be affected by the upgrade.

Crypto users urged to take necessary measures

Crypto users should be aware that during this time, they may be unable to access their Binance accounts or take any action on their positions/orders.

To prevent potential risks and losses during the system upgrade (including but not limited to forced liquidations and market swings), Binance urges its users to take necessary measures to evaluate and manage their account positions and orders before the scheduled upgrade.

This includes reducing leverage, adding margin, and/or closing positions or orders, or, whatever they may deem appropriate for managing their trading positions.

Binance noted that the duration of the upgrade might vary and is based on its best estimates. The impacted functions are expected to resume once the upgrade is completed, but there may be no further announcement.

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