Binance.US to Retire Existing Deposit Addresses for IOTA as Part of Its Support for the Upcoming IOTA Mainnet Upgrade

Binance.US, the American arm of major crypto exchange Binance, has announced its support for the upcoming IOTA network mainnet upgrade.

The upcoming IOTA network mainnet upgrade is set for May 5, 2025, at 3:00 a.m. EDT. In preparation for the upgrade, Binance.US will retire existing deposit addresses for IOTA a few days before, on May 2, 2025, at 11:00 p.m. EDT, and provide new ones after the upgrade is complete.

"In preparation for the IOTA network mainnet upgrade, we'll be retiring existing deposit addresses for IOTA a few days prior to the upgrade and providing new ones after it's complete. If you have an existing deposit address saved or whitelisted, please remove it. New deposit addresses will be provided within a week of the mainnet upgrade being completed. If any deposits for IOTA are made or in progress after this time, they may not be credited to accounts and will be lost permanently and irreversibly. Please complete all IOTA deposits before this time to avoid the permanent loss of funds. If you are a user depositing to a chain, please cooperate with the exchange to avoid any loss of funds or crypto assets due to the inability to handle the upgrade. Finally, if you are a user withdrawing to a chain, please be aware that you may encounter difficulties if you do not update accordingly.output: Binance.US will cease supporting existing IOTA deposit addresses and users are advised to complete all IOTA deposits before this date to avoid the permanent loss of funds.

IOTA deposits and withdrawals will be suspended at this time and users are urged not to deposit IOTA to prevent the permanent and irreversible loss of funds.

If any deposits for IOTA are made or in progress after this time, they may not be credited to accounts and will be lost permanently and irreversibly, Binance.US warned.

Also, if an existing deposit address has been saved or put on a whitelist, it should be removed, as it will be retired. The exchange said that new deposit addresses for IOTA will be provided within a week of the mainnet upgrade being completed.

IOTA Rebased network upgrade

As previously reported, the IOTA Rebased network upgrade is scheduled to take place on May 5, 2025. This marks a historic shift as the network migrates from the current Stardust architecture to the all-new IOTA network, which would be birthed through a Genesis Ceremony with 13 validators.

The IOTA Rebased upgrade would include a carefully planned ceremony led by the IOTA Foundation and an initial group of 12 other validators.

While trading on exchanges will continue uninterrupted, users should note that IOTA token deposits and withdrawals might be temporarily paused during the upgrade and prepare accordingly. These services are expected to resume shortly when the upgrade is completed.