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doomloop

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Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

Just giving you guys a hint especially the newbies Binance is changing previous deposit wallet addresses lately as part of the upgrading of the service security. They promised to always notify each user about the specific wallet address that's changed but they are not doing that lately. Please always check your deposit wallet on the exchange before making use of it.
I almost lost some USDT to the wallet upgrade today.
Just posting it here to safe someone from loosing their crypto

I'm also a Binance user and I always get notified when an address is expired or if it is about to get expired so that I can use the new address for deposits, so I don't think that they are not notifying their users, if you didn't receive an email notification from then it probably is because of a bug or something but they generally notify everyone about it.

And I think this is pretty old already and everyone have already come to know about it and there has already been posts here in the forum about it. You should first check your email and see you have probably received the notification and might have missed it somehow.

ultrloa

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Quote from: rat03gopoh on May 16, 2023, 04:21:28 AM

Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

I almost lost some USDT to the wallet upgrade today.

About the change of deposit address, I noticed they gave early notifications (about 1 month earlier) to the user's email directly, I got this kind of email even though I haven't traded there for a long time. I think you should make sure whether you've marked their notification as spam or not.

As a side note, the TRX coin (and all supporting tokens) will expire on June 1.

Yes receive multiple emails about it and for sure many users receive this to. They should check their emails to know get an updates regarding the possible upgrades or other announcement made by them or the other platform so that they will not be surprised about possible things that happens especially if they have balance left to their accounts.

Maybe best to contact their support to get more idea or clarification about those announcement they made.

rat03gopoh

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Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

I almost lost some USDT to the wallet upgrade today.

About the change of deposit address, I noticed they gave early notifications (about 1 month earlier) to the user's email directly, I got this kind of email even though I haven't traded there for a long time. I think you should make sure whether you've marked their notification as spam or not.

As a side note, the TRX coin (and all supporting tokens) will expire on June 1.

sheenshane

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Quote from: CryptoHeadlineNews on May 15, 2023, 11:33:03 AM

Thanks for informing us of this very important update, as with the result of a high Bitcoin transaction fee, the worst thing an individual could do is send his/her coun to a lost wallet address. But I just checked my Bitcoin (SegWit) wallet address now and only noticed it's still the same that I have been using for months. Or should it be that this new update was made specifically only for USDT deposits?? Because there is no such update on Binance's official Twitter handle.

Because USDT is under the ETH network and based on the announcement here.

(photo is not mine)

Bitcoin network wasn't included.
However, the comment above said was right and I tend to agree. Always do check the address when you're planning to transfer any coins into Binance. Especially those coins that are shown in the images above.

CryptopreneurBrainboss

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Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

Just giving you guys a hint especially the newbies Binance is changing previous deposit wallet addresses lately as part of the upgrading of the service security. They promised to always notify each user about the specific wallet address that's changed but they are not doing that lately. Please always check your deposit wallet on the exchange before making use of it.
I almost lost some USDT to the wallet upgrade today.
Just posting it here to safe someone from loosing their crypto

Binance exchange is just providing a service (which is to help you exchange your coins), you're responsible for not be security conscious enough to note that wallets address shoudn't be stored but taken from the direct source whenever we want to make a transaction. Excluding Binance exchange changing their deposit addresses, there could be malware in your device that could change the deposit addresses you have copied and stored on your phone/laptop so always make sure you're copying an address directly so you can crosscheck to make sure the wallet address is correct before usages.

Also I think Binance exchange have done enough by constantly sending our notifications. I can't remember the last time I used my Binance account but I received the notification on my email severally. There's also an update of how you can recover your funds if you send them to the old addresses. Binance exchange has done the best they could so it's left for us to be extra careful when making a deposit to confirm if the address we're sending the coins to is the same as that of the wallet service providers that we're using.

tabas

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I believe that they've notified every user that shall receive it about this arrangement or you probably have missed it. And even if you still use your old address from them with certain cryptos that you'll deposit, you'll still be able to get it but it's going to be hassle than ever.

Quote from: Forever101 on May 15, 2023, 02:04:54 PM

This update will save a lot of persons from loosing their Crypto. But if I may ask, is that action of theirs not against their community standard and promise? , Changing users address without a formal notice should be questionable and any lost incurred should be accounted for by the team. Am saying this if it is true that they are not notifying their users. Upgrade is good but it shouldn't be at the expense of community users. I hope all binance users see this update

As you can read with the blog that they've made posted above. There have been users that have already received the notification and if you haven't got one yet, you have no problem of using your old depo address. And much better before making a transaction, always check the deposit address if you ever will deposit to your Binance account.

un_rank

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- Jay -

Quote from: 348Judah on May 15, 2023, 10:34:13 AM

i way to also exercise censorship on user's account by placing regular upgrades which each user must meet up to, by so doing, anyone not yet upgraded will loose having access to their assets in some certain conditions, centralized exchanges is not the best at all, we need our privacy and control over our assetsby going completely decentralized.

You are right that centralized exchanges are not the best option for trading, but change of addresses is not done to exercise censorship or to make one lose access to their assets, it is a security measure and also a privacy one used by exchanges regularly.

Besides the announcement to double check deposit address, it is a good habit to always check the deposit address from the website and not have it saved somewhere on your device from where you copy it.

Do go completely decentralized.

- Jay -

_BlackStar

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Quote from: CryptoHeadlineNews on May 15, 2023, 11:33:03 AM

Thanks for informing us of this very important update, as with the result of a high Bitcoin transaction fee, the worst thing an individual could do is send his/her coun to a lost wallet address. But I just checked my Bitcoin (SegWit) wallet address now and only noticed it's still the same that I have been using for months. Or should it be that this new update was made specifically only for USDT deposits?? Because there is no such update on Binance's official Twitter handle.

You should read more about the explanation, but if you are not considered an affected user then just follow the instructions. Binance should be able to take good care of its customers, but you should make it a habit to check everything before making a deposit including updating the address.

https://www.binance.com/en/support/announcement/existing-deposit-addresses-to-be-retired-2023-04-18-b5b3cff601af4ce88feaaf5ed1c0c7f

Quote

Please note:
Please continue using your current deposit address if you have not received an official notification from Binance.
Only impacted users who receive notifications from Binance are required to obtain a new deposit address and memo (if applicable) before the expiry date. Expiry date of old deposit addresses will be stated in the notification. Old deposit addresses will expire upon obtaining a new address.
Funds deposited into expired addresses are safe and will not be lost. Users can manually credit the deposits via the "Transaction History" page. Do note that deposits made into expired deposit addresses would not be automatically credited.

Forever101

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This update will save a lot of persons from loosing their Crypto. But if I may ask, is that action of theirs not against their community standard and promise? , Changing users address without a formal notice should be questionable and any lost incurred should be accounted for by the team. Am saying this if it is true that they are not notifying their users. Upgrade is good but it shouldn't be at the expense of community users. I hope all binance users see this update

CryptoHeadlineNews

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Thanks for informing us of this very important update, as with the result of a high Bitcoin transaction fee, the worst thing an individual could do is send his/her coun to a lost wallet address. But I just checked my Bitcoin (SegWit) wallet address now and only noticed it's still the same that I have been using for months. Or should it be that this new update was made specifically only for USDT deposits?? Because there is no such update on Binance's official Twitter handle.

Z390

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You are not making any sense, I am a Binance exchange user and they have keep notifying me about the change of Ethereum address for weeks now, how can you falsely accuse the exchange? I have two cousins that also use Binance exchange and they get notification about the change of address too.

Hmm, it's either you are not checking your email account you use to open Binance account or you are doing this intentionally to get attention on this forum. So which one is it?.

348Judah

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Binanc can be so frustrating atimes in they unceasant hectic abd continuous upgrades they usually made to thier website, this could be confusing atimes because it's too frequent, I don't want to believe that the only advantage in doing this is for them to maintain a good security network to their system but rather, i way to also exercise censorship on user's account by placing regular upgrades which each user must meet up to, by so doing, anyone not yet upgraded will loose having access to their assets in some certain conditions, centralized exchanges is not the best at all, we need our privacy and control over our assetsby going completely decentralized.

Wapfika

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Quote from: hosseinimr93 on May 15, 2023, 10:25:58 AM

Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

I almost lost some USDT to the wallet upgrade today.

You shouldn't lose your fund even if you have made deposit to expired addresses.
According to their announcement, you should be able to credit the deposits made to old addresses manually.

For more information, visit the following article.
Existing Deposit Addresses to Be Retired (2023-04-18)

The attached link shows an error 404 once I click to visit it. I remember reading article this news shared on our local board. There’s a note on the bottom if I’m not mistaken that funds might potentially loss if user deposit on old address that’s why they are encouraging to use the new address because it’s part of their security update for all their wallet.

But ofc, Exchange is just saying those words to push user on using the new wallet address. It’s absurd for Binance to toss all their private key from their old wallets.

hosseinimr93

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Quote from: Myleschetty on May 15, 2023, 09:59:34 AM

I almost lost some USDT to the wallet upgrade today.

You shouldn't lose your fund even if you have made deposit to expired addresses.
According to their announcement, you should be able to credit the deposits made to old addresses manually.

For more information, visit the following article.
Existing Deposit Addresses to Be Retired (2023-04-18)

Quote from: Wapfika on May 15, 2023, 10:31:24 AM

The attached link shows an error 404 once I click to visit it.

Sorry. I edited the link.

Oshosondy

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Binance is an exchange, you should move this thread to exchanges board.

Binance sent notification to their users about change of addresses, which they have changed already. But Binance enable manual deposit for any user that uses old address. Is this what you are talking about? I saw several notifications that Binance displayed on their site several times before the exchange start to use the new addresses but I did not know the coins that are affect.

Binance is an exchange, people should know that it is not your own keys, it is Binance that have the exchange and the keys. If you want to give your Binance address to anyone or you want to send money there, go to Binance to get your address.

Myleschetty

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Just giving you guys a hint especially the newbies Binance is changing previous deposit wallet addresses lately as part of the upgrading of the service security. They promised to always notify each user about the specific wallet address that's changed but they are not doing that lately. Please always check your deposit wallet on the exchange before making use of it.
I almost lost some USDT to the wallet upgrade today.
Just posting it here to safe someone from loosing their crypto

Thank you.

Topic: Binance User (Read 144 times)