Please check your binance address

[Obari]

I just got a pop up email at the early hours of today from binance stating that some coin addresses where expired and I was shocked because that's the first time I'm seeing such and I've never thought of such and I just thought it right to share the news with the forum just incase anyone still uses a previous address to these coin the they should do well to try getting a new one and below is the link to getting a new address
https://www.binance.com/en/my/wallet/account/main/deposit/crypto

Good luck.

I don't know if this is the right board to post this but if it's not, then I will appreciate if anyone points out the right board for me or better still be moved by a moderator.

[1714734825]

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[Hyphen(-)]

I just got a pop up email at the early hours of today from binance stating that some coin addresses where expired and I was shocked because that's the first time I'm seeing such and I've never thought of such and I just thought it right to share the news with the forum just incase anyone still uses a previous address to these coin the they should do well to try getting a new one.
https://telegra.ph/file/8161aece65e6a4fae8e1b.jpg
Good luck

I have experience such case back then when I was using Hotbit exchange, the exchange went for maintenance and change almost all wallet addresses which they maid mentioned that it is for security reasons, maybe that is what Binance is trying to do too.

But can this be one of the disadvantages of using Centralized exchanges?

This look as if they control our wealth for us because they have the right to change anything and the users can't say anything about it, are we actually safe?

[hd49728]

That means Binance moves their funds including deposits from their customers to new wallets and consequently create and assign new wallets for their customers.

The notification is important as many people save their deposit addresses and use it for their personal deal (trades with others, loans, salary payment, etc.). They might not log in their accounts each time they want to send their receiving addresses to a trade partner.

If they reuse the old address, that is risky and perhaps lose their coins.

Again this one warns us that "Not your keys, not your coins". I am sure Binance will still have access to those old wallets and addresses but if you send your coins to your old addresses, I am unsure they will support you to recover your fund.

[PX-Z]

Here^[1] is the earlier discussion thread of this topic. Also, the expiration of TRX address has been announced as well on different email.

If they reuse the old address, that is risky and perhaps lose their coins.

It will not get lost, it won't just reflect automatically and need manual actions to reflect it on the account's balance.

[1] https://bitcointalk.org/index.php?topic=5449050.0

[Nwada001]

I got a similar message a few days ago but it was titled differently: "Thank you for retrieving your new address under." This is because I usually check my deposit address all the time. If I am to make a deposit 10 times a day, I will go back 10 times to generate the address. I don't pin my addresses or save them anywhere because I always believe that exchange addresses can change at any time. To avoid any form of mistake,  it's always advisable for you to recheck your deposit address before making any form of deposit.

Another good thing about this Binance change of address is that the old address is not completely useless. For those that copy and save the address on their notepad or wherever, deposits made won't be lost; they will still be deposited into the user's account. But no one knows how long until they are completely eradicated from their system.

[Renampun]

...
I don't know if this is the right board to post this but if it's not, then I will appreciate if anyone points out the right board for me or better still be moved by a moderator.

I also get a warning message like this 11 hours ago,


I haven't used Binance for quite a while, but because the Gmail I use is my main Gmail, I get a message like this, because I don't feel I have coins in the wallet that on mention, I won't respond to it.

[joniboini]

Another good thing about this Binance change of address is that the old address is not completely useless. For those that copy and save the address on their notepad or wherever, deposits made won't be lost; they will still be deposited into the user's account. But no one knows how long until they are completely eradicated from their system.

I'd still discourage users from reusing the same address after this. Even if you can still use it for as long as Binance exist, who knows what kind of move they will pull later down the line if you newer 'renew' your deposit address. I also believe it is bad practice to copy-paste from a notepad or something similar instead of always checking your deposit address since malware might alter your data and so on. In short, better use the new one and ditch the old one asap.

I don't feel I have coins in the wallet that on mention, I won't respond to it.

It is a deposit address anyway, your balance on Binance won't change because of this. It just affects your new deposit for those coins/tokens in Binance.

[Dr.Bitcoin_Strange]

I hope some lazy people will not fall victim to this situation. I have made the mistake of sending some coins to the wrong address, and after that mistake, I usually check if the old address is always the same as the one I am sending to. Sometimes I just pin the address to my notes for easy access, but more often, when I am trying to send, I still walk back and check if it's accurate. And some people who also like to pin their address can definitely fall for this Binance expropriation of wallet because some people don't even read their emails on a regular basis, and Binance customer service cannot begin to call 🤙 customers individually, telling them not to use the old address. Even if not in this forum, there are crypto users outside here that may not know about this.

[Adbitco]

This notification has been sent to every binance users last week I think so.., including me I got this same mail as well so what I did was to change most of my payment address where I sent my Binance 0x deposit address to a metamask wallet since is more trust and reliable than Binance deposit address that expires at some given time.
After given this notification all users are responsible for their lost or even sending a coin to a wrong address that's not valid any more from the exchange.

[khaled0111]

It will not get lost, it won't just reflect automatically and need manual actions to reflect it on the account's balance.

I believe I've read somewhere the option to manually credit funds sent to old addresses to your account's balance will not last for long a may get removed at any time. Of course, binance will still have access to the old addresses and technically they will be able to move funds sent to old addresses to new ones but there is no guarantee they will be willing to do so.
Therefore, all users must generate new addresses and stop using the old ones to avoid any inconveniences.

[Husires]

Does anyone know what will happen when you deposit to those old addresses?

• will contacting the support team solve the problem
• or is the money lost forever?

They had to put a warning in the account and not to cancel the deposit to those old addresses unless the user agreed to that, either by clicking on a link in the e-mail message or when he entered his account, but just an advertisement on the e-mail will not be enough for many, which means that we will hear stories of losing money soon.

I stopped using binance a few months ago, but the warning is nice because I am sending to the same address on my new exchange.

[hosseinimr93]

Does anyone know what will happen when you deposit to those old addresses?

You won't lose the fund. Deposits that are made to the old addresses won't be automatically credited, but you will be able to credit them manually.
Click here to read their announcement regarding address expiration.

[sunsilk]

Thanks for the heads up.

I stopped using binance a few months ago, but the warning is nice because I am sending to the same address on my new exchange.

It's been a while as well for me since I've visited my account there and here goes an update that has been notified to all of us. Well, it's time to start modifyingthat old note of yours containing your old addresses to avoid some problems but then, as said on their blog it's not going to be problem even if you send it there.

But, it's best to just avoid sending to the old ones.

After given this notification all users are responsible for their lost or even sending a coin to a wrong address that's not valid any more from the exchange.

As long as that "wrong address" that you're pertaining about is the old one, there should be no problem but let's all adopt the new change as these old addresses are said to be expired.

[hugeblack]

I remember that a while ago I sent some  bitcoins to a wrong address, and fortunately I discovered that that address was one of the addresses of binance, which I stopped using because they ask for KYC, I thought that those funds were lost, but I logged in and withdraw my money even my account was not complete KYC, which happened several months after I stopped using that account, so I hope to be careful and check your account before doing anything Deposit to an old address.

[Obari]

I remember that a while ago I sent some  bitcoins to a wrong address, and fortunately I discovered that that address was one of the addresses of binance, which I stopped using because they ask for KYC, I thought that those funds were lost, but I logged in and withdraw my money even my account was not complete KYC, which happened several months after I stopped using that account, so I hope to be careful and check your account before doing anything Deposit to an old address.

Exactly senior and one thing I always do is making sure I get my wallet address directly from the exchange whenever I'm doing a transaction rather then having it saved somewhere just to easily access it when the need be..
This is cryptocurrency and we should always remember that any slightest mistake might lead to loss of money without being able to recover.
Good you were able to recover yours because there are cases of people losing because of a slight mistakes in wallet address.

[rby]

I remember that a while ago I sent some  bitcoins to a wrong address, and fortunately I discovered that that address was one of the addresses of binance

When I read to this point, I became nervous and I thought that I will read a testimony where you sent coins to an unknown address not belonging to you and you were lucky to retrieve your coin 

which I stopped using because they ask for KYC, I thought that those funds were lost, but I logged in and withdraw my money even my account was not complete KYC, which happened several months after I stopped using that account, so I hope to be careful and check your account before doing anything Deposit to an old address.

It had a similar idea with binance, an account I abandoned because of kyc for months if not years. I had to recieve money I am not sure of the source, I took the risk to pass it through the unverified binance since I had no option and I withdrew the money without issues. It seems that when you stop KYC process with binance, they also abandon your account till when you are ready again.

[Aikidoka]

I received the same email from Binance a couple of days ago and at first, I thought it might be a phishing link. However, I checked and verified to make sure it was legitimate and It was the right email address belong to binance, any of you guys can verify any Binance source from here [1].

Since I don't use Binance very often and haven't deposited any altcoins there recently, it wasn't a big concern for me to be honest so I just left it like that.

Even if you fall to this issue and accidentally send your coins to an old address, it doesn't necessarily mean that you will lose them. Binance has mentioned this in their platform [2].

Nevertheless, I recommend that everyone should change their address and verify it to avoid encountering this problem in the future:)

[CryptopreneurBrainboss]

Even if you fall to this issue and accidentally send your coins to an old address, it doesn't necessarily mean that you will lose them. Binance has mentioned this in their platform [2].

Nevertheless, I recommend that everyone should change their address and verify it to avoid encountering this problem in the future:)

I must applaud Binance exchange for providing this option, at first when I heard same news few weeks back, I didn't see this option and it got me wondering if those that mistakenly send coins to the previous addresses, will the coins be lost forward but after seeing this option it gives me some piece as although we're enlightening users here not to keep their coins on exchanges or store addresses to be used later, we still have those both on and off the forum that'll be guilty of this and having to know that they wont lose their coins to this upgrade is satisfying as it's painful to lose money you have worked so hard for just because of you not been informed.

Also this goes to show Binance isn't under any attack that demanded them to make changes to their deposit addresses because if it was an attack then the old addresses won't have been functional since they would had been compromised but from their explaining, the addresses are still functional but not advisable to be use to avoid complications. I believe this event will teach people valuable lesson most especially the victims that'll need extra service to recover their coins, at least they'll now learn to stay up to date and stop storing addresses to be reused especially those that come from a centralized wallet service providers like exchanges.

[Husires]

Click here to read their announcement regarding address expiration.

Thanks for the link, but when I read more details, I found:

Only impacted users who receive notifications from Binance are required to obtain a new deposit address and memo (if applicable) before the expiry date. Expiry date of old deposit addresses will be stated in the notification. Old deposit addresses will expire upon obtaining a new address.

quote from https://www.binance.com/en/support/announcement/existing-deposit-addresses-to-be-retired-2023-04-18-b5b3cff601af4ce88feaaf5ed1c0c7f8

Unless you receive a message in your e-mail, you do not have to worry, and even if you receive it, you will be able to use your old addresses. It is just an update and not a complete transfer to new addresses or a backdoor (someone access them private keys) in their systems that renders the old wallets invalid.