Freeze! binance announced on Tuesday that it will be temporarily pausing deposits and withdrawals for 0xPolygon Network. (Reporting via _prashantjha)
Binance, the world’s biggest crypto exchange by trading volume, announced earlier on Tuesday that it will be temporarily pausing deposits and withdrawals for Polygon Network.came in the wake of the Polygon network’s outage since Friday after a network upgrade. The crypto exchange noted that it would reopen the deposit and withdrawal features once the network becomes stable.
Polygon network is a layer-2 Ethereum scaling solution that boasts millions of users and an evolving ecosystem. The network underwent an essential upgrade on one of the three layers on Friday, but due to a suspected bug, the three layers didn’t reach a consensus post the upgrade, leading to the downtime.
Polygon developer account on Twitter noted that the bug issue had been fixed and the network is stable. It also clarified that Binance is currently upgrading its nodes and syncing data, hence the temporary halt. Polygon PoS network is stable, and working fine. All funds are safe. Binance is upgrading its nodes, and currently syncing the block data, hence they have paused the deposit and withdrawal.
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