Binance announced that it plans to halt all deposits and withdrawals of Ethereum and Wrapped Ethereum on selected networks, starting September 6th at 2 am (UTC) due to Ethereum’s Merge event.
The company shared a list of tokens and networks that will be impacted during the Merge , Specifically ETH (Arbitrum), ETH (OP) and WETH (RON). The company stated that deposits of Ethereum and Wrapped Ethereum made on these networks during the suspension will not be credited, and affected users will not be eligible to receive any “forked token credit in the event of a chain split.”
The suspension of transactions on the named networks is scheduled to last until the Merge is complete. According to Binance, this is being done to “secure the allocation of forked tokens in the case of a chain split.”
Binance said that this precautionary move is only temporary, and that deposits and withdrawals of Ether and Wrapped Ether on the impacted networks will resume once the networks are deemed stable after the Merge is complete. During the Merge, ETH trading will not be impacted by the named network suspensions.
