Binance To Retire LUNC Deposit Addresses
The leading cryptocurrency exchange Binance has declared that it will stop accepting deposits to old deposit addresses, including Terra Classic’s.
Binance claims in a blog post that it has been improving the infrastructure of its wallet to give consumers better efficiency and fund security.
As a result, it is gradually retiring deposit addresses and memos that are still on the outdated infrastructure. As a result, certain networks’ present deposit addresses and memos will be retired, and users will need to get a new deposit address.
The list of network addresses scheduled for transfer in Q2, or April to June 2023, is provided by Binance in a table. The LUNC network will expire because it was one of many using the same deposit address.
Also, networks AMB, ARBITRUM, AVAXC, BSC, CELO, CHZ, CTXC, ETC, ETH, FTM, GLMR, KLAY, MATIC, MOVR, OPTIMISM, REI, RON, RSK, THETA, TOMO, VET, WAN, WTC and XDAI were stated as utilizing the same deposit address and will expire.
Binance says it will send out email notifications in batches to impacted users. It urges impacted users to obtain a new address and memo upon receiving the notification.
(With inputs from Shikha Singh)
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