Binance will undergo a system update on September 25, 2024, at 09:30 (UTC), potentially causing brief service interruptions.
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that a system update for account services is scheduled for September 25, 2024, at 09:30 (UTC).
The update is anticipated to last for approximately three hours, during which users may suffer brief service interruptions. The primary objective of the system update is to improve the overall stability and efficacy of the system.
Which Binance Services will be Impacted by the Update?
Interruptions may occur in all services on the Binance exchange during the update. These interruptions will impact The following account-related features: account logins, new account registrations, spot and margin trading, futures transactions, P2P operations, VIP account services, and other account functionality.
According to reports, disruptions may be brief for each user. Nevertheless, users who encounter disruptions can access Binance products shortly after that.
Binance underscored that users’ data and assets will not be impacted during this period. Furthermore, the update procedure will not affect transactions conducted through the API. Nevertheless, users may be unable to access their accounts or execute transactions during this period.
Avoiding Risks During the Update
In order to mitigate risks and potential losses during the update, Binance recommends that users conduct a thorough review of their open positions and orders.
In particular, it may be necessary to implement measures such as closing positions, adding collateral to positions, and minimizing leverage. The cryptocurrency exchange has declared that it will not be held accountable for any potential losses that may occur during the update process.
Binance also acknowledged that the estimated update duration is subject to change. Upon the update’s conclusion, all impacted functions will be reactivated.
Binance advised users to employ caution and implement the requisite safety measures during the update, and it indicated that there would be no additional announcements regarding the system update.
