On January 2, 2025, Binance took the step of suspending deposits for the TROY (BSC) token due to concerns related to the potential security of the TROY-BEP20 token contract. The decision was made as a precaution to enhance user protection amid unresolved issues.
This suspension means that Binance will no longer support the TROY token on the Binance Smart Chain (BSC) network until further notice. The exchange is currently in discussions with the project developers to obtain detailed information about the collateral backing the minted tokens on this network. However, as of now, the project team has not provided adequate clarification regarding these concerns, prompting this protective measure.
Should circumstances change and the safety of the TROY token be confirmed, Binance may consider reopening deposits. It’s important to note that no additional announcement will be made if deposits are reinstated.
This decision affects only the deposits related to TROY on the BSC network. Other transactions involving TROY, such as deposits and withdrawals via the Ethereum Network (ETH), will continue as normal and remain unaffected by this suspension.