Binance Suspends Gifto (GFT) Deposits Amid Security Concerns, Trading to Be Delisted Soon

On November 29, 2024, Binance announced the suspension of Gifto (GFT) deposits amid concerns regarding a potential security vulnerability within the GFT smart contract. This proactive measure is aimed at ensuring the safety of users’ assets on the platform. According to the announcement, should Binance determine that the security risks have been mitigated, GFT deposits may resume at their discretion without prior notification.

In addition to the temporary suspension of deposits, trading activities for all Gifto (GFT) spot pairs will be halted and the asset is set to be delisted on December 3, 2024, at 16:00 (UTC+8). This move aligns with Binance’s ongoing commitment to maintaining a secure trading environment. Previous reports indicated that Binance had also planned to delist other assets, including IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN), on December 10, 2024, at 11:00 (UTC+8).