Cryptocurrency exchange Binance has announced it will support the upgrade and hard fork on its IoTeX (IOTX) network. To protect user experience during the upgrade process, the exchange will temporarily suspend token deposits and withdrawals via the IoTeX network.
According to a statement released by Binance, deposit and withdrawal operations for tokens on the IoTeX network will be suspended on October 19, 2026, at approximately 01:00 UTC. The network upgrade and hard fork are planned to take place on the same day at approximately 02:00 UTC.
The upgrade will take place at block height 53,533,081 on the IoTeX blockchain network. It is noted that the stated times are estimates and the timing of the process may vary depending on the block production process on the network.
Binance emphasized that trading of the relevant tokens on the platform will not be affected during the network upgrade. Accordingly, users will be able to continue trading the relevant crypto assets through Binance, although deposit and withdrawal services will be temporarily suspended.
The exchange also announced that it will manage all necessary technical operations related to the upgrade and hard fork on behalf of users. Therefore, users will not need to perform any additional technical operations to participate in the network upgrade.
Upgrades and hard forks performed on blockchain networks can enable changes to the network protocol and updates to the technical infrastructure.
Binance will wait to ensure the IoTeX network is stable after the upgrade is complete. Deposits and withdrawals will be restored once the network is deemed stable.
*This is not investment advice.
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