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  • Binance to suspend both deposits and withdrawals during the 8-hour maintenance.
  • The upgrade notice did not specify the specific upgrades to be executed.

The Malta-based cryptocurrency exchange company and the world’s largest by adjusted daily trading volume has announced scheduled maintenance. This maintenance will take 8 hours starting March 12, 2019, at 2 am UTC. The exchanges said that customers should expect all the deposits and withdrawals to be suspended during the entire period. According Binance system upgrades notice:

“Binance will suspend deposits, withdrawals, and trading during this period. Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.”

The system upgrades notice adds:

“The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.”

Investors are holding their breath ahead of the upgrade knowing that past maintenance on exchanges has resulted in Bitcoin price manipulation. Bitcoin whales have a tendency to take advantage of the situation leaving other traders out control of their positions by the time the exchange platforms resume operations. The upgrade notice did not specify the specific upgrades that are going to be executed. However, the CEO of Binance, Zhao Changpeng assured the community that the funds will be safe.