[UPDATE] Binance BTC Segwit wallet address changed

[Obari]

Just got this notification this morning  https://ibb.co/m67TcSD
that my deposit address has been updated to a Threshold signature scheme(TSS)  and a new address was already provided for me, so I thought it wise to share with members here to do well to check their deposit address  before forwarding as any deposit made to the previous address will need to be authorized manually which will take over 60 minutes before confirmation.

[Coin_trader]

Just got this notification this morning  https://ibb.co/m67TcSD
that my deposit address has been updated to a Threshold signature scheme(TSS)  and a new address was already provided for me, so I thought it wise to share with members here to do well to check their deposit address  before forwarding as any deposit made to the previous address will need to be authorized manually which will take over 60 minutes before confirmation.

I check mine just now and I don’t this kind of notification while my segwit address is still the same. AFAIK they have this kind of announcement last year on their wallet address but I’m not aware about the current one.

Nevertheless it’s important to always copy the deposit address before you send any amount on your exchange account instead of saving it to your notepad or Bitcoin wallet. This kind of changes will not be a problem if user will always do the manual copy on the deposit address.


It’s odd that I don’t find this announcement on my account notification. Does your account have an advance notification for this changes?

[Oshosondy]

It is good to know that legacy bitcoin address was not changed, only segwit address was changed. Also that this is coming late from you because this has changed since last week.

It is also good to know that if someone pays to the old address, the bitcoin can not be credited automatically, but the person can go to deposit history to credit it manually. But it will be good not to use the old address again.

I check mine just now and I don’t this kind of notification while my segwit address is still the same. AFAIK they have this kind of announcement last year on their wallet address but I’m not aware about the current one.

Nevertheless it’s important to always copy the deposit address before you send any amount on your exchange account instead of saving it to your notepad or Bitcoin wallet. This kind of changes will not be a problem if user will always do the manual copy on the deposit address.


It’s odd that I don’t find this announcement on my account notification. Does your account have an advance notification for this changes?

You said your segwit address is still the same. It may be similar to what happened last year that unaffected users were not notified.

Binance existing Deposit Addresses to Be Retired in Q3 (July - September 2023)

[BitMaxz]

Mine was changed 2 weeks ago I think not all will be notified they slowly notify selected Binance users about replacing segwit address.
I thought that my Binance app was hacked or got a fake notification I tried to search it on Google but I couldn't find any information.

However, I decided to test after depositing some amount and trading BTC to USDT and exchanging it for local currency it worked.
Do not worry about the replacement addresses they just want to keep their customers safe.

[examplens]

I remember having this change, but it was a long time ago. I have not tested what happens with deposits sent to the old address, I assume that it remains connected to the same Binance account.

This thing makes me think that many users still use the exchange address as a deposit wallet and receive various payments directly on the exchange. After countless cases where this practice proved to be wrong, persistent repetition of the mantra Not your keys, not your coins, many still ignore these recommendations. I find that strange.

[Bitcoin_Arena]

Mine is still the old Segwit address, with no notification about any change. Do they send out any email about the need to use the new address and stop using the old one, like they did with other networks like TRON?

In simple terms, what does a TSS address mean?

[BitMaxz]

I remember having this change, but it was a long time ago. I have not tested what happens with deposits sent to the old address, I assume that it remains connected to the same Binance account.

According to Binance if you are still using the old address it is still safe but it won't be credited to your spot wallet once it is confirmed you need to do it manually using the button available(One click arrival) on your transaction history page. Here is what the notification said to me below

Please note that funds deposited into expired addresses are safe and not lost. However, subsequent deposits to expired addresses will not be automatically credited. You can credit the funds to your Spot Wallet manually using the [One click arrival] button on the Transaction History page.

But still not safe if we keep using the old one that is why they keep replacing old deposit addresses is to make sure the customer's funds are safe.

[PX-Z]

It’s odd that I don’t find this announcement on my account notification. Does your account have an advance notification for this changes?

The announcements of changing address are like country per country or area based on binance's category. Just like before, some get an announcement notification but i didnt, then few weeks later i receive the announcements related to it.

As long as binance didn't send any notification yet in (email or in-app notification) it's good to say that there's no changes yet happened to your account.

[Dr.Bitcoin_Strange]

Mine is still the old Segwit address, with no notification about any change. Do they send out any email about the need to use the new address and stop using the old one, like they did with other networks like TRON?

In simple terms, what does a TSS address mean?

TSS means Threshold Signature Scheme.

Mine got changed from the usual Sigwet to this TSS address. I have informed some of my friends to also check if there's is same but one friend said his own is still the old address that is there.

[hugeblack]

This is the first time I have heard about TSS. They seem to be off-chain signatures, something like multiple signatures, but there is a threshold signing where the signatories cooperate to produce a single signature, or in simpler words, they are trying to decentralize their system. I just hope that we do not hear that binance hot wallets have been hacked, and this also necessarily means At some point, deposits to old addresses will be invalid, and fees may be charged to recover your coins, or you may not be able to do that so you must visit your account every few days and verify that the deposit address is still the same.

[tabas]

I have to check my Binance account if it has updated with this kind of TSS address because I haven't received any notification which they should have done through our emails.

before forwarding as any deposit made to the previous address will need to be authorized manually which will take over 60 minutes before confirmation.

No update on me and it's still the same 60 minutes before confirmation but with the network, they're quicker although I don't choose them as it's not considered Bitcoin to me if they're BSC, BEP20/2, ERC20.

[Z-tight]

This is why it is good to always copy your address from your wallet or from the platform it was created in, i.e. your exchange account, saving it somewhere else and getting it from there when you need it might not be a great idea, especially as you do not control the keys to the address. I know addresses you create in your self custodial wallet cannot be 'changed' in this way, but it is bad for privacy to save one address and use it repeatedly.

[Adbitco]

Immediately i came across this post i have to go view my binance deposit address and i noticed it wasn't change maybe could be it was only change to some users or possibly batches. Although before i do send out payment to my Binance address I have to login to verify my address before releasing payment to that address because of my experience in the past with exchange address after haven saved if for long without me regularly logining to check the address, and this may likely affect those who used exchange address for their signature campaign.

[EarnOnVictor]

Just got this notification this morning  https://ibb.co/m67TcSD
that my deposit address has been updated to a Threshold signature scheme(TSS)  and a new address was already provided for me, so I thought it wise to share with members here to do well to check their deposit address  before forwarding as any deposit made to the previous address will need to be authorized manually which will take over 60 minutes before confirmation.

Thank you for this notification, to many it might be nothing, but to me, that was in a kind of the wrong circumstance of a crypto address change, I know the worth. It happened to me last year with Tron's address, and dealing with a company in this situation, the address change nearly got me into trouble. I even made a post in this regard in the Altcoin section of the forum, so I know what I am saying. But for the Segwit address, I do not use it with any exchange, and for not familiarizing myself with it, I can't just know if a change happens or not.

I've also restricted some of Binance's mailers from sending too many messages to my inbox, so I might not even know. Many said it wasn't a smart idea, but still, I am yet to regret it.

[Z-tight]

I've also restricted some of Binance's mailers from sending too many messages to my inbox, so I might not even know. Many said it wasn't a smart idea, but still, I am yet to regret it.

If you are actively using your binance account, i don't see any reason why you would not want to receive emails from them, you don't know when you would miss an important Binance update. Even if you don't receive emails from the exchange you use, you should always log in to the platform and copy your BTC address when you want to receive funds. Since the exchange control the keys, they can make certain changes and you have to be sure before depositing funds.

[EarnOnVictor]

I've also restricted some of Binance's mailers from sending too many messages to my inbox, so I might not even know. Many said it wasn't a smart idea, but still, I am yet to regret it.

If you are actively using your binance account, i don't see any reason why you would not want to receive emails from them, you don't know when you would miss an important Binance update. Even if you don't receive emails from the exchange you use, you should always log in to the platform and copy your BTC address when you want to receive funds. Since the exchange control the keys, they can make certain changes and you have to be sure before depositing funds.

That is you, but I who blocked them have my reasons. As I said in my first post, I have yet to regret doing that after over a year now. It is not through the emails you get all your information, there are other channels that are better for my gadget safety. I also do what you suggested in all my email subscriptions and I respect how minimally all other companies are sending messages to me, unlike Binance which was disturbing. They were just flooding my inbox with messages, of which many of which are so annoying and not needed, especially those nonsense they call promos emails where a whole Binance would be saying a huge number of customers should be sharing a very small amount of money after fulfilling some tasks.

These things are annoying me, so stinging but using people's heads to market, and maybe people would do it due to desperation and poverty. Since those messages have become too much for me, I had to be blocking their mailer one after the other. This is also good for me to avoid fishing mail. Since then, no company has spammed my official inbox again, and the only Binance mailers I left are the ones that send the deposit and confirmation, and that of the OTP to verify transactions.

[khaled0111]

Thank you for the notification, OP. I was just about to send some bitcoin to my binance segwit address and wasn't aware of this change.
Seeing how many emails binance sends about new promotions and irrelevant updates, I find it weird that they don't send notification emails about such important changes.
Also, why don't they credit funds sent to old emails automatically? Why does it need to be credited manually?

BTW, I don't think it's wise to share your address publicly.

[GxSTxV]

What if someone didn't notice that email or get notified from Binance and keep using that old address to receive and deposit Bitcoin, what's going to happen to the funds received on that old address? Will they be forwarded to the new address or just gonna be lost?
I think it's better for Binance to notify users with emails first, notified inside their website and mobile application few days before doing such a move, many people just copy and save their old address for long term use, some users here they use it for instance; on signature campaigns and get paid weekly to the same wallet address.

I didn't receive any notification yet, what does it mean? Is it a process for few users only ?

[Potato Chips]

What if someone didn't notice that email or get notified from Binance and keep using that old address to receive and deposit Bitcoin, what's going to happen to the funds received on that old address? Will they be forwarded to the new address or just gonna be lost?

Previous address retirement cases had an option to manually credit deposits.

I didn't receive any notification yet, what does it mean? Is it a process for few users only ?

You could still be in queue. Binance has a habit of implementing changes per batch.

I respect how minimally all other companies are sending messages to me, unlike Binance which was disturbing. They were just flooding my inbox with messages, of which many of which are so annoying and not needed, especially those nonsense they call promos emails where a whole Binance would be saying a huge number of customers should be sharing a very small amount of money after fulfilling some tasks.

LOL so true! over the years, I have gotten loads of emails from binance asking me to verify my account. My reward voucher even went up to 50 bucks IIRC lol. But isn't there an option [in binance account settings] to disable promo emails only so important announcements won't be affected?

[khaled0111]

But isn't there an option [in binance account settings] to disable promo emails only so important announcements won't be affected?

Yes there is. From "Settings" , click on "Notification Preferences" then turn off the "Marketing Updates" button. This is supposed to unsubscribe you from their promotional emails but you will still receive important notifications like login attempts, deposit/withdrawal notifications..


Or you can simply click on the unsubscribe link you can find on the footer of any promotional email.

Thank you for reminding me of this feature. I finally turned it off.