Important Notice: Binance Deposit Halt Affects OM and EGLD Users

crypthub

4 days ago

Deposit Suspension Overview

Binance announced a temporary halt of deposits and withdrawals for Mantra (OM) and MultiversX (EGLD). OM deposits stop on 27 Oct at 07:51 UTC, while EGLD suspends on 30 Oct at 16:00 UTC. Trading pairs for both assets remain active during the outage.

Reason for the Halt

The suspensions support essential network upgrades for each blockchain. Upgrades enhance security, speed, fees and add new features. By pausing transfers, Binance protects user funds from incompatibility risks during the transition.

Guidance for Holders

Users should complete any needed OM or EGLD deposits or withdrawals before the scheduled times. Assets already on Binance stay safe and can continue to be traded. Monitor Binance and project announcements for the exact resumption dates.

Broader Context

Network upgrades are routine in the crypto ecosystem, ensuring long‑term scalability and robustness. Mantra focuses on DeFi services, while MultiversX targets enterprise‑grade applications. Binance’s precautionary measure reflects its commitment to asset security while the platforms evolve.