Binance suspends deposits and withdrawals on the Polygon network

On June 30, 2025, the cryptocurrency exchange Binance issued an official warning: a temporary suspension of token operations on the Polygon network is scheduled for tomorrow, July 1. Instead of the usual “early bird” start at 07:00 UTC, operations will begin a bit later—at 08:10 UTC, when the network reaches block 73,440,256 and activates the hard fork to improve performance and stability.

Key Points to Note:

• Deposits and Withdrawals: Deposits and withdrawals of tokens on Polygon will be unavailable from 08:10 UTC on July 1, 2025, until the network’s stability is confirmed. Spot trading will not be affected—you will still be able to buy and sell, but not transfer coins to and from the exchange.

• Recommendations for Users: If you plan to make large transactions, it is best to complete them in advance so you don’t get stuck in the “maintenance window.”

• Upgrade Details: The Polygon hard fork will optimize the gas pricing mechanism and reduce the risk of chain reorganizations.

History of Previous Upgrades:

1. January 14, 2025: The “Danelaw” hard fork was implemented on the mainnet to improve security and block predictability.

2. January 18, 2025 at 03:00 UTC: EIP-1559 mechanics went live on the PoS chain, smoothing out fee spikes and simplifying transaction cost calculations.

Another note for context: the largest liquid staking protocol, Lido, announced at the end of 2024 that it would be phasing out the Lido on Polygon service. The Lido DAO community acknowledged that high competition and a shift in interest toward zkEVM solutions have made the Polygon PoS chain less in demand—the project exit will be completed by June 2025, and frontend support will officially end on June 16, 2025.

Stay tuned for updates—we will be sure to report on the network’s restoration as soon as validator nodes confirm that everything is “lighting up” smoothly and without issues.