Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is down today. The outage appears to be affecting the website and mobile app, with users reporting being unable to log in or trade.
Binance has not yet issued an official statement on the matter, though the company’s CEO, Changpeng Zhao, did tweet that “all systems are down for maintenance.”
This is not the first time Binance has experienced outages or service disruptions. In February, the exchange was down for several hours due to “unexpected downtime.
NOTE: Warning: Due to reports of potential technical difficulties with the Binance exchange, we strongly advise all users to exercise caution when trading on the platform. Please be aware that there may be unexpected delays in order processing and withdrawals. Users should monitor the official Binance website and social media channels for updates on any potential issues.
” And in January, Binance was forced to suspend withdrawals after it detected “irregular trades” that may have been part of an attempt to manipulate the market.
The latest outage comes as Bitcoin and other cryptocurrencies are experiencing a sell-off. Bitcoin is down about 10% over the last 24 hours, while Ethereum and XRP are both down more than 7%.
Binance is one of the most popular cryptocurrency exchanges in the world, so any downtime is bound to have a significant impact on the market. We will update this article as more information becomes available.
Update: Binance has issued a statement saying that it is “investigating reports of some users not being able to log in or access their funds.” The exchange says it is “working as quickly as possible to resolve the issue.”.
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