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Usha Yadav
Sep 3, 2022
by Usha Yadav

Binance Announces LUNC, USTC Deposit And Withdrawal Changes

Binance

Table of contents

  1. Suspended Deposits and Withdrawals for LUNC and USTC
  2. Binance Advises Avoiding Terra Classic and USTC
The largest cryptocurrency exchange in the world, Binance, announced on Friday that Terra Classic (LUNC) and Terra ClassicUSD (USTC) deposits and withdrawals will be halted starting on September 7 at 0:00 UTC owing to the closing of the Shuttle Bridge. However, users can still use the Terra Classic network to make deposits and withdrawals of LUNC and USTC tokens.

Suspended Deposits and Withdrawals for LUNC and USTC

On September 2, Binance announced that Terra Classic (LUNC) deposits and withdrawals via the Ethereum network and Terra Classic USD (USTC) deposits and withdrawals via the BNB Smart Chain (BEP20), Ethereum network (ERC20), and Polygon network would be available until September 7. Through the Terra Classic network and the Ethereum network (ERC20), Binance facilitated LUNC deposits and withdrawals. Additionally, the BNB Smart Chain (BEP20), Ethereum network (ERC20), Polygon network, and Terra Classic network enabled deposits and withdrawals of USTC.

However, withdrawals and deposits made through other networks will be impacted by the closing of the Shuttle Bridge. However, users can still use the Terra Classic network to deposit and withdraw their LUNC and USTC tokens.

Binance Advises Avoiding Terra Classic and USTC

Near the deadline, Binance advises avoiding Terra Classic and USTC deposits and withdrawals. Deposits and withdrawals made after the deadline will not credit to respective accounts. Additionally, Binance Earn services will continue to operate correctly, including spot and margin trading for LUNC and USTC. During this time, if users encounter technical difficulties with token transfers over the Shuttle Bridge, Binance will take care of them.

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Binance Announces LUNC, USTC Deposit And Withdrawal Changes
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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