Bitrue crypto wallets getting offline for upgrade

Several crypto wallets of Bitrue are getting under maintenance
  • Some crypto wallets are offline on Bitrue, as the exchange has to upgrade them
  • After the upgrade, the old wallet addresses will be replaced with new ones
  • The upgrade will not affect anything, and the exchange will upgrade automatically
  • There are concerns about whether the upgrade of wallets are safe, as the exchange has not revealed exact details

Bitrue, a crypto trading and storing service provider, has recently announced about its wallets getting offline. Several wallets of the firm, including XRP, ADA, and DOT, are under maintenance. According to the exchange, such wallets are temporarily offline, due to which the trading depositing and withdrawing of the tokens are halted. Following the announcement, it is revealed that the wallets went offline for significant upgrades. However, the exchange also highlighted that the wallet addresses of the users using PayString would update automatically. So, such users can easily continue using their existing addresses as usual.

Old wallet addresses will be changed after the upgrade

On Friday, Bitrue will be performing significant upgrades to XRP, ADA, and DOT wallets. For this reason, the exchange has halted the deposits and withdrawal of such tokens. According to the exchange, for only a few hours, such tokens’ trading will be halted. After the deployment of the upgrade, the wallets will get back online. However, it is also known that after the upgrade, the wallet addresses of the users will be changed. Notably, any funds sent to old addresses will become irretrievable.

Do the Bitrue users need to move their tokens before the upgrade?

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The users of the tokens don’t need to do anything before the upgrade of the wallets. According to Bitrue, after the upgrade, the wallet addresses will be changed. Following the change of the addresses, the exchange also highlighted that the users needed to make sure that they should only send future deposits to new wallet addresses after the upgrade. Except for the deposits, the users should sit back and relax, as the exchange will automatically update the wallets behind the scene. The exchange has also confirmed that the trading on other pairs will not be affected. On the other hand, the upgrade will also not affect the FLR airdrop.

Is the upgrade and change of wallet addresses safe?

There are users of the exchange who think that there is something wrong with the updates. Following the announcement, a Twitter user questioned the exchange, if there is a possibility for a while depositing tokens to new wallets and the funds went to somebody else’s account. However, these are just speculative concerns, as the deployment of upgrades seems only for the wallets’ security purposes. However, the real reason behind the wallets’ upgrade and new features is still a mystery.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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