Binance will suspend deposits and withdrawals for the Rootstock Infrastructure Framework (RIF) token on May 4, starting at approximately 17:00 UTC, to support a planned network upgrade and hard fork. The world's largest crypto exchange by trading volume made the announcement to ensure a smooth transition during the protocol update.
"To prepare, the exchange will suspend RIF token deposits and withdrawals starting around May 4, 2026, at 17:00," the original announcement stated, with the year being an apparent typo and other sources confirming the date as May 4. Spot trading of RIF against pairs like USDT and BTC will not be affected during the suspension, allowing users to continue trading.
The temporary halt of services is a standard procedure during blockchain hard forks. A hard fork is a fundamental change to a network's protocol, creating a new version of the chain. Exchanges suspend transactions to prevent potential issues like transaction failures, replay attacks, or the creation of duplicate tokens, thereby safeguarding user assets. Other major exchanges like Coinbase and Kraken often follow similar protocols.
The Rootstock hard fork is scheduled to occur at block height 8,804,200. Binance will reopen RIF deposits and withdrawals once it deems the upgraded network to be stable and will not issue a separate announcement. Traders should complete any necessary token transfers before the suspension window to avoid disruption.
A hard fork represents a significant upgrade to a blockchain, often introducing new features, security enhancements, or changes to the consensus rules. Rootstock, a smart contract platform secured by the Bitcoin network, is undergoing this upgrade to improve its functionality. For RIF token holders, this means potential changes to how the token interacts with the network.
This proactive measure by Binance is a common industry practice to mitigate risks associated with major network changes. While inconvenient, the suspension is crucial for maintaining the integrity of user funds. Historically, Binance has a consistent track record of managing such events for other major tokens like Ethereum and Bitcoin Cash, with services typically resuming within a few hours post-upgrade, depending on network stability.
This article is for informational purposes only and does not constitute investment advice.
