Ether’s awaited software update ‘Merge’ to be announced, Binance sounds alarm | Mint – Mint

The world’s leading blockchain ecosystem said that after ‘The Merge’, Ethereum holders do not need to claim new tokens nor make any updates on their end.

Apart from this, it advised holders not to click on any links promising such swaps and asked them not to provide any personal information.

ALSO READ: Crypto exchange Binance to convert users’ USDC into own stablecoin Binance USD

Binance took to Twitter and wrote, “Stay #SAFU! As the #Ethereum Merge approaches, scammers take advantage of the increasing hype to intensify their malicious attempts. Here are a few examples of such scams and how to avoid them.”

Ethereum in the meantime, is updating its software ‘The Merge’ that will shift its mechanism to proof-of-stake (PoS) from existing proof-of-work (PoW).

Binance claims, the majority of its services will be largely unaffected by The Merge besides a delisting of Ethereum from their mining service as well as a temporary pause on Ethereum borrowing, deposits, and withdrawals.

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