Binance Reports Delay in Toncoin Network Upgrade

Binance, one of the world’s largest cryptocurrency exchanges, has issued an important update regarding the ongoing network upgrade for Toncoin (TON).

In a recent tweet, Binance acknowledged that the upgrade is taking longer than anticipated due to unforeseen technical challenges. The exchange reassured its users that its technical team is diligently working to resolve the situation and restore normal service as quickly as possible.

In their message, Binance stated: “Service Update. Our TON network upgrade is taking longer than expected due to unforeseen issues. Rest assured, our team is working diligently to restore normal service as quickly as possible. Thank you for your understanding!”

While specific details regarding the nature of the technical issues were not disclosed, users were cautioned that delays in network upgrades may temporarily affect deposits and withdrawals of Toncoin.

At this time, Binance has not provided any indication of how long the delay might last. The proactive communication is intended to keep users informed and reduce potential concerns regarding the situation.

It is noteworthy that Toncoin, which is the token for The Open Network, experienced a decline of more than 20% following reports of Telegram CEO Pavel Durov‘s arrest at a Paris airport.

Toncoin’s decline coincided with a turbulent period for The Open Network, which aims to leverage Telegram’s extensive user base for in-app payments and gaming services.