Tron Alert: Transfer Your TRX or Risk Losing It All
Tron just released a crucial update on its upcoming mainnet launch. The platform is set to migrate off of the Ethereum blockchain on June 21st, and if you don’t prepare you could lose your investment.
To ensure your tokens are successfully transferred to the new blockchain, Tron Labs requires they be moved to a well-known exchange that is preparing for the migration:
“For token holders, with your ERC20 tokens saved to cryptocurrency exchanges (the only required operation on your part), further operations for token migration will be automatically completed for you in due time.”
Anyone holding their tokens on MyEtherWallet or the Ledger Nano S would be wise to move their tokens onto an exchange, until and unless Tron announces support for either wallet.
As long as your coins are on an exchange, such as Binance, it appears you’re good to go.
— Tron Foundation (@Tronfoundation) April 15, 2018
Once the mainnet launches, Tron is asking exchanges to freeze all transactions from June 22 to June 23.
After June 24th, ERC20 transactions will no longer be valid, and TRX will only be supported on the new public blockchain.