Dear Users,
In response to a security breach involving the Ronin cross-chain bridge, Binance's investigation team is actively assisting the Axie Infinity team in tracing transaction records related to this incident. This collaboration aims to better identify the hacker(s) involved.
As a precautionary measure, Binance has temporarily suspended deposit and withdrawal services for the Ronin (RON) network since March 29, 2022. This decision aligns with the ongoing investigation led by Axie Infinity and law enforcement agencies.
Key Actions Taken:
- Blocked potential hacker wallet addresses and deployed a dedicated team to monitor suspicious transactions.
- Paused Wrapped Ether (WETH) withdrawals on the Ethereum network, along with WETH/ETH asset conversions.
We acknowledge this may inconvenience some users and appreciate your patience as we work toward a resolution. Binance will restore all affected services once the Ronin network stabilizes, with further updates provided via official announcements.
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FAQs
1. Why did Binance suspend Ronin network services?
The suspension supports the investigation into a Ronin bridge exploit, ensuring user funds remain secure during the process.
2. When will services resume?
No specific timeline yet. Updates will be shared once the network is deemed stable.
3. Can I still trade RON or WETH on Binance?
Spot trading remains unaffected, but withdrawals/deposits are paused until further notice.
Risk Warning:
Cryptocurrency trading carries significant risks. Binance does not guarantee or compensate for any losses incurred. Always exercise caution.
For new users:
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This article is for informational purposes only and does not constitute financial advice.
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