Binance has officially announced a temporary suspension of RIF token deposits and withdrawals to support the upcoming Rootstock network upgrade.
What is the RIF Suspension on Binance?
Starting from October 1st at 4:00 PM UTC, Binance will temporarily suspend operations with RIF tokens. This measure is a standard procedure for network maintenance and is not a cause for alarm.
Reasons for the Rootstock Network Upgrade
The Rootstock network, which RIF tokens operate on, is undergoing significant upgrades aimed at improving performance and security. These upgrades are essential for addressing vulnerabilities and ensuring the network’s competitiveness.
How the RIF Suspension on Binance Affects Users?
During the temporary suspension period, users will not be able to deposit or withdraw RIF tokens, but their funds will remain secure in their Binance accounts. Trading of RIF will continue unaffected. Users do not need to take any additional actions, as Binance manages all technical requirements.
The temporary RIF suspension on Binance is a routine step to support the Rootstock network upgrade. This highlights ongoing development efforts in the crypto ecosystem.
