The Binance cryptocurrency exchange has stopped the withdrawal of B-tokens (BEP-2) on the BNB Beacon Chain network. This is due to the gradual shutdown of the blockchain, which is scheduled to stop in April 2024.
According to the statement, the company supports the decommissioning plan of the network to ensure smooth migration of users to the BNB Smart Chain. The team works with clients whose assets are located in the BNB Beacon Chain.
Binance recommends that users using the BEP-2 standard convert their tokens to the BEP-20 format. At the moment, the company is suspending the withdrawal of funds from the blockchain related to Binance tokens.
Transactions with other assets will be available until February 21, 2024. After that, the withdrawal of funds in the BNB Beacon Chain network will be completely stopped.
It is worth noting that the termination of the network is due to the rejection of the BNB Chain project from a double-stranded structure. As part of the restructuring, the Beacon and Smart Chain blockchains will be combined into one chain that supports the BEP-20 standard.