Binance temporarily halts Polygon deposit and withdrawal to sync nodes

Binance, the world’s biggest crypto speech by trading volume, announced earlier connected Tuesday that it volition beryllium temporarily pausing deposits and withdrawals for Polygon (MATIC) Network.

The announcement came successful the aftermath of the Polygon network’s outage since March 11 aft a web upgrade. The crypto speech noted that it would reopen the deposit and withdrawal features erstwhile the web becomes stable.

Polygon web is simply a layer-2 Ethereum scaling solution that boasts millions of users and an evolving ecosystem. The web underwent an indispensable upgrade connected 1 of the 3 layers connected March 11, but owed to a suspected bug, the 3 layers didn’t scope a statement station the upgrade, starring to the downtime.

Polygon developer relationship connected Twitter noted that the bug contented had been fixed, and the web is stable. It besides clarified that Binance is presently upgrading its nodes and syncing data, hence the impermanent halt.

Polygon PoS web is stable, and moving fine. All funds are safe. Binance is upgrading its nodes, and presently syncing the artifact data, hence they person paused the deposit and withdrawal.https://t.co/hnhXp3AWga

— Polygon Developers (@0xPolygonDevs) March 15, 2022

The Polygon web is made up of 3 layers, each of which serves a chiseled purpose. The Ethereum furniture runs astute contracts portion the Bor furniture immunodeficiency successful generating blocks. The responsibility lies successful the 3rd Heimdall layer.

Related: Polygon’s absorption connected gathering L2 infrastructure outweighs MATIC’s 50% driblet from ATH

The suspected bug caused antithetic Heimdall validators to beryllium connected antithetic versions of the chain, thereby not reaching 2/3 consensus. While the outage for a fewer hours was expected and was besides notified by the Polygon team, the 11-hour extended outage became a crushed for interest for galore projects arsenic good arsenic traders.

Polygon web has fixed another upgrade bug backmost successful December 2021 aft a information spouse discovered a vulnerability that could person enactment $24 cardinal worthy of funds astatine risk. According to the latest Polygonscan data, the web has started producing timely blocks and the squad has assured that the web bug has been taken attraction of.