Binance to Briefly Suspend BNB Chain Withdrawals; Here’s When

The BNB chain is gearing up for a major upgrade as the Maxwell hard fork approaches. On June 30, BSC block times will be reduced from 1.5 seconds to 0.75 seconds, resulting in faster finality, new infra standards and tighter timing for on-chain users.

The Maxwell hard fork brings a major upgrade to the BNB Smart Chain (BSC), decreasing block times from 1.5 seconds to 0.75 seconds. This represents the next step in the BNB chain’s mission to enhance network responsiveness, transaction speed and validator performance.

Three key proposals — BEP-524, BEP-563 and BEP-564 — power the Maxwell update, each of which aims to improve core aspects of the chain’s speed and reliability.

With Maxwell, BSC will reduce block interval to 0.75 seconds, improve validator communication across the network and accelerate block syncing between nodes.

As with most upgrades for the BNB Chain, Binance might suspend withdrawals and deposits on the network on the said date, and hence, users are urged to plan accordingly.

Binance performs routine maintenance for the BNB Chain

Earlier today, Binance announced a temporary suspension of withdrawals on the BNB Smart Chain to perform routine wallet maintenance. The move, while brief, was crucial for network stability and security.

Today, Binance announced wallet maintenance for the BNB Smart Chain (BEP20). To support wallet maintenance, deposits and withdrawals on BNB Smart Chain (BEP20) were briefly suspended from June 19 at 5:55 a.m. (UTC), with the maintenance lasting one hour.

Deposits and withdrawals were deemed to be reopened after the network was considered stable, with no further announcements made.