According to Cointelegraph, Binance, a cryptocurrency exchange, has made plans for another upgradation of its wallet infrastructure. It is expected that they have also warned users about the change in their wallet address.
Sources revealed that on July 6, 2023, Binance officially announced that it would remove selected deposit addresses in batches as part of the shifting of the network address scheduled for quarter 3 (Q3) 2023, Cointelegraph added.
It is believed that Binance will send notifications to the users who had been affected. Also, Binance’s latest wallet upgrade may affect a total of about 40 cryptocurrencies. Supposedly, Binance encouraged all impacted account holders to get a new address and memo after receiving the notification, Cointelegraph highlighted.
Furthermore, “Only impacted users who receive notifications from Binance are required to obtain a new deposit address and memo — if applicable — before the expiry date. […] Old deposit addresses will expire upon obtaining a new address,” Binance told Cointelegraph.
(With insights from Cointelegraph)