Binance restored the operation of the Ethereum wallet

The press service of the Binance crypto trading platform announced that the maintenance of the Ethereum wallet (ERC-20) has been successfully completed. Earlier, the technical service informed users that on the morning of November 8, 2022, the ETH storage will be unavailable to all clients of the platform due to the update.

The project team promised that the update would not last more than 2 hours, but in the end, the software upgrade dragged on for almost 3 hours. Nevertheless, upon its completion, all users of the trading service were again able to deposit and withdraw tokens of the ERC-20 standard of the Ethereum network.

Many users wondered what the update might be related to, which took several hours. Some Twitter users assured that the largest trading platform has problems with storage and they are afraid of hacker attacks. Allegedly, this is why Binance decided to conduct a security update.

Other users stressed that such procedures are commonplace and do not involve any technical problems. They are designed to improve the functionality and increase the level of convenience of working with assets for users of the trading exchange.

At the same time, the service’s customers noted that during the update, no problems were noticed with trading virtual assets based on Ethereum both on the spot service and with the use of derivatives.