Binance Issues Important Warning as It Plans to Perform Wallet Maintenance

[ImThour]

I am sure it's not the first time they are doing this, and you making this post makes it sound like something that's going to cause a massive Crypto Event that will destroy everything.
That's not how it is. Yes, every exchange do maintenance and as a Binance user, they have been doing it for years now. Nothing to worry about in my honest opinion.

Also, make sure to keep your funds safe by using a Hardware Wallet.

[Assface16678]

I think there's nothing to worry about this annocement as maintenance is a part of an application pr site so its nothing to be afraid of, yes we heard and see issues about binance one of the most popular crypto currency platform, but its services and security to users assets are still good or nothing to worry, I don't think they will do somethinf that could endanger their reputation in the mainstream, but if you folks are worried about this maintenance well, you can do your own precautions or measure like trannsferring your assets from binance to another wallet before thr maintenance, its ups to the users if they will trust or not the binance but one thing is for sure they still one of the safe place to store or do your crypto currency stuffs. I still choose to trust Binance, as I've been using it for many years and I believe they value their users.

[Text]

Funds are safu... for now! Just kidding, I still trust Binance even though they've given us a grace period locally due to the risk of being banned in our country. I'm just curious, do you have any idea about the kind of standard operation they're conducting? I'm not too concerned about my funds - Binance has a pretty solid track record. Before I read this post, I also received an email earlier from another former exchange about changes to the deposit wallet address.

[CryptSafe]

Binance is a reputable crypto exchange well known for its transparency, credibility and reliability when it comes to handling of investors funds. They do follow procedures in making sure everyone member of their platform or exchange is carried along when it comes to information dissemination as it regards their activities which will in one way or the other mare transaction process resulting or leading to panic in the system.

The binance I know does not hoard information because the organisation knows information and communication matters  alot when it comes to investment and as such, would make sure investors are well informed of their activities so as not to raise so alarm that could mar their image.

So therefore, the public notice/ warning they have issued out is part of the awareness and conditions embedded in their terms of service. They have fulfilled their own role of letting the public know their intentions so therefore it is already in the public knowledge to abide otherwise or anything contrary, they would have themselves to blame.

[Frankolala]

It is only people that keep their coins in Binance that would panic because they chose not to listen to the simple advice of not your keys..not your coins. Such people will panic whenever there is any news from that exchange that they are keeping their coins in. It is good to save yourself from panic and use a self-custody wallet where your mind will always be at rest, because you own your keys.

A lot of people will transfer their coins because of the recent CZ issue with the US. Also, they are aware that exchanges can crash anytime no matter how big it is. They did the right thing to inform their customers and that means that they are sincere but that does not mean that they cannot come up with an exist scam. Funds are Safu, when nobody can see it to confirm that it is true 

[shield132]

The biggest cryptocurrency venue Binance tweeted that it intends to perform a standard operation on their wallet maintenance over the next few days.

The Twitter/X account of the exchange added that users may see large cryptocurrency transfers on various blockchains made from its wallets.

Binance urged its community not to worry for their assets, assuring them that “funds are safu”, citing the former chief executive Changpeng Zhao (famous simply as “CZ”), who stepped down recently, handing his position to Richard Teng.

This is very normal. They inform people and tell them that their funds are SAFU because to avoid panic and massive withdrawals. If you don't inform users, they'll start panicking. Binance doesn't want to collapse as FTX.

In the past I will be somehow worried if I get an information like this, but due to the knowledge and more insight I have gotten from this forum, it's like an offense too me now, to keep my assets in a centralized exchange like binance.

It's hard to trade these days. People on this forum suggest depositing money to exchange, trade and withdraw immediately to lower the risk of losing access to your fund but bitcoin transaction fees are so high from both sides, that it will cost you a lot to send bitcoins to exchange address and it will also cost a lot to withdraw your coins. For financial profit, you have to gain enough percentage to cover loses caused by high transaction fees and loses caused by trade fees.
At the moment I suggest everyone to trade through DEX, do only one-time trades.

If you left funds on Binance after the FTX & Gemini fiascos, you are beyond lucky to still have access to them.  If you left money in there after the settlement with regulators about their illegal behavior, you are tempting fate.  If you still have funds in Binance after seeing them boost their interest rates on stablecoins to try and get more customer money to shore up losses and keep themselves from being exposed or liquidated, you are literally begging to have your funds stolen from you.  

Remove your funds from Binance immediately if you want your funds to be safe.  They are certainly and most definitely not safe on Binance, in spite of whatever you're told.  Sure, they may get away with it and keep BNB afloat to avoid liquidation, but they're playing games with your money.  Don't for a second think they aren't.

Binance plays very risky games every day, they are very lucky to be able to keep running the company since 2017. I suggest everyone to avoid Binance and its products, including Trust Wallet.

[Z-tight]

Binance is a reputable crypto exchange well known for its transparency, credibility and reliability when it comes to handling of investors funds.

If you believe that, then it is fine and we have to respect your decision, you can store your funds with them and let them handle it well for you. The reality is that Binance is an exchange that is into many shady things, that is why they regularly face charges from regulatory bodies and they are hiding in the Cayman Islands . If you don't want to lose your money, you would not allow a third party control it for you, if you use Binance for trading, always move your funds into your custody once you are done.

[FinneysTrueVision]

The biggest cryptocurrency venue Binance tweeted that it intends to perform a standard operation on their wallet maintenance over the next few days.

The Twitter/X account of the exchange added that users may see large cryptocurrency transfers on various blockchains made from its wallets.

This is the reason why I was receiving so many whale alerts for tokens I had set up Telegram notifications for whenever there was some large transfers. I thought it was because we are in a bullish period with high demand but it turns out that it's just routine maintenance. For some people it might be disappointing that these movements didn't indicate that there was a big pump coming but it is still important that Binance conduct these operations in order to maintain a high level of security and reliability.