Binance discloses that some existing XRP deposit addresses and memos will expire within the third quarter of 2023, urging affected users to obtain new ones for ease of transfers.
The world’s largest digital assets exchange and leading blockchain ecosystem, Binance has set out to modify deposit addresses and memos of some cryptocurrencies, including XRP. Wu Blockchain, a top media platform, publicized this update on Twitter today.
Binance has been upgrading its wallet infrastructure and will be retiring selected deposit addresses and memos in batches by networks. Network addresses scheduled for migration in Q3 (July – September 2023): BTC BCH XRP SOL XMR LTC ADA DOGE DOT FIL ALGO AVAX and more.…
Per the announcement, the existing deposit addresses and memos used by some users to receive XRP into their Binance accounts will expire (or become less functional) between July to September 2023.
This development is part of the exchange’s overall wallet infrastructure upgrade, which aims to ensure the safety of users’ funds and improve efficiency.
Accordingly, the exchange has urged impacted users who receive notifications
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Source: https://thecryptobasic.com/2023/07/06/binance-to-retire-xrp-addresses-in-upcoming-wallet-upgrade-what-you-need-to-do/?utm_source=rss&utm_medium=rss&utm_campaign=binance-to-retire-xrp-addresses-in-upcoming-wallet-upgrade-what-you-need-to-do