TRON (TRX) Transactions Resume On Cryptocurrency Exchange OKEx

Cryptocurrency exchange OKEx has recently announced that it has resumed TRON (TRX) transactions that entails deposits and withdrawals. Earlier OKEx had suspended all deposits and withdrawals, owing to the pending work of upgrading TRON’s mainnet.

In a statement issued by OKEx to its users, it announced that finally the mainnet swap of TRON is complete. Going forward all deposit and withdrawal services will resume as normal. It thanked its users for their patience and cooperation. In its statement, OKEx mentioned that it will generate new TRX deposit addresses post the mainnet swap.

It has urged its users to use the new address instead of the old one, in order to prevent any kind of assets loss. While the TRON mainnet upgrade was going on, tokens were automatically swapped onto the new blockchain. As stated in the OKEx notice on June 19th, the existing deposit addresses for TRX have been discarded. Any deposits that have been made to old TRX addresses are irretrievable.

OKEx in its statement has mentioned that the following list of wallets and exchanges have completed TRON’s mainnet upgrade and resumed withdrawals and TRX upgrades: Bitforex, Cobo, Coinfalcon, Gateio, OKEx, and Upbit. It mentioned that Binance is yet to resume TRX withdrawals. The exchange issued an explanation towards this on Reddit.

As reported in the Daily HODL, OKEx in its explanation mentioned that the security requirements of Binance are relatively stringent as compared to other exchanges. Binance is known to rigorously carry out tests, until it deems the chain to be in a secure and stable state. Since a couple of swaps were carried out at the same time, the projects decided to move their own blockchains during the second half of June and again towards the end of June.

OKEx further mentioned in its statement that speaking of TRON, Binance holds the responsibility of 19 billion TRX! Hence they need to be 100% sure that everything works out seamlessly. Presently Binance is also undergoing system maintenance and thus it has suspended withdrawals, trading, and other account functions during this period.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Jesmine Rahman holds 15+ years of professional writing experience of working with reputed Indian dailies like the Times of India and the Indian Express. She also holds a rich experience of working as a Senior Technical Content Specialist with a reputed IT company. for 10 years. She writes crypto news on OWLT Market.

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