Binance To Retire Existing Deposit Addresses & Memo on Selected Networks

Binance Announcement

Binance has been boosting its wallet infrastructure to guarantee adequate wallet efficiency and security.

As of today, Binance is retiring the current deposit addresses and memos on selected networks. According to the Binance team users are required to acquire a new deposit address.

Binance-Announcement-twitter-deposit-addresses-memos

Separate announcements will be made to inform users of the impacted networks.

To acquire a new deposit address as well as the new memo (if relevant), users may log into their Binance accounts on the Binance app or website. The migration will be completed over a period of time and impacted users will also be informed through email.

Although No immediate action is required.

Important Points to know:

  • Binance will not conduct any address change for users.
  • Deposits to the old deposit addresses will continue to be credited automatically until a new deposit address is acquired and a deposit transaction to the new deposit address is concluded.
  • The old deposit address will stop working once the new deposit address is obtained and a deposit transaction to the new deposit address is conducted. In addition, any further deposits to the old deposit address will not be automatically credited. Users must credit their deposits manually through the Deposit History page explains their expert team.
  • The old deposit address will discontinue work after 30 days of the email notification if no new transaction is made to the old deposit address or a new deposit address is not acquired. Subsequently, users will need to manually credit their deposits made to the old deposit address via the Deposit History page.

Hungry for more information?

Check out the Latest NFT news!

For more interesting updates on NFTs, connect with NFTHI on Twitter and Instagram.


NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFT trading.

Share This Post

Related Posts

Epic Games CEO reveals the company won’t put a ban on NFTs like Minecraft

Microsoft’s Mojang Studios revealed on Wednesday that it will soon ban...

Hacker group Anonymous to target Do Kwon over misconducts over Terra Luna 

A month after the Terra ecosystem’s descent, investigators have...

Ethereum-Based Coin Mixer Tornado Cash is banned by US Government

Ethereum-Based Coin Mixer Tornado Cash has received a ban...

GameStop’s NFT daily income drops below $4K amid market struggle

GameStop’s NFT marketplace which opened in mid-July has seen...

FTX CEO Sam Bankman is no longer a billionaire following the 94% loss of his Fortune

Earlier this week, FTX CEO Sam Bankman-Fried, who was...
spot_img