Binance Temporarily Suspends Polygon Deposits and Withdrawals for Network Upgrade

Binance has taken a proactive measure by temporarily suspending Polygon (POL) deposits and withdrawals on its platform to support the network's scheduled upgrade. This upgrade aims to enhance the network's performance, security, and gas fee efficiency.

The suspension began on March 4, 2025, at 1:00 p.m. UTC and will last until the upgraded network is deemed stable by Binance's technical team. During this period, users can still trade POL against other cryptocurrencies on the exchange platform, but transferring POL to or from external wallets will be impossible.

The Polygon network upgrade is a scheduled hard fork that implements several Ethereum Improvement Proposals (EIPs) to improve transaction cost reduction and block validation. This upgrade aims to strengthen the network's position as a scalable blockchain platform, supporting thousands of decentralized applications (dApps).