Binance, one of the world’s largest Centralized Exchanges (CEX), will suspend deposits and withdrawals for several Multichain-bridged tokens. 

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Starting from July 7, 2023, at 00:00 (UTC), users cannot deposit or withdraw the affected tokens on some networks until further notice. This move comes in response to recent developments related to the Multichain (MULTI) protocol on May 24.

The suspended tokens and networks include POLS, which is bridged via the BNB Smart Chain, Alchemy Pay (ACH) also via the BNB Smart Chain, Beefy.Finance (BIFI) bridged through the Fantom Network, SuperVerse (SUPER) on the BNB Smart Chain, Travala (AVA) through the Ethereum Network, Spell Token (SPELL) via the Avalanche C-Chain, Alpaca Finance (ALPACA) bridged through the Fantom Network, and Harvest Finance (FARM) on the BNB Smart Chain.

With the suspension, the exchange is taking proactive steps to ensure the security and integrity of its platform. Binance is known for its commitment to maintaining a safe and trustworthy trading environment, and this decision aligns with its dedication to protecting user assets.

In the meantime, users who hold or trade any of the affected tokens can still deposit or withdraw them via other supported networks on the exchange. 

What is Binance

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. 

The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.

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