As of this morning, Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is suspended. The cause of the suspension is currently unknown, though there are a few theories floating around.
One theory is that the suspension is due to a scheduled system upgrade that was not communicated properly to users. Binance has been upgrading its systems quite frequently lately in order to accommodate the influx of new users and the increase in trading activity.
Another theory is that the suspension is due to an external attack on the exchange. This would not be the first time that Binance has been Targeted by hackers, as the exchange was hacked back in March of 2018.
NOTE: It is important to note that Binance is currently suspended today due to a system upgrade. This suspension is necessary for Binance to enhance security, improve system stability and ensure the safety of user funds. We encourage users to not attempt any transactions while Binance is suspended as this may cause unexpected errors. We apologize for any inconvenience caused and thank you for your patience.
Whatever the cause of the suspension may be, it is sure to cause a lot of inconvenience for users of the exchange. Binance is one of the most popular exchanges in the world and is used by millions of people.
The suspension of trading on the exchange will likely have a significant impact on the cryptocurrency market as a whole.
We will update this article as more information about the suspension of Binance becomes available.
Update: Binance has released a statement saying that it will be suspending all trading on the exchange for “system maintenance.” It is still unclear what caused the need for this maintenance or how long it will take.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended withdrawals indefinitely. The move comes after a “large scale security breach” that resulted in the loss of 7,000 BTC (about $40 million at current prices). Binance says it will use its “Secure Asset Fund for Users” (SAFU) to cover the lost funds.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended withdrawals of the virtual currency. The move comes after a hack that saw $40 million in Bitcoin stolen from the exchange. In a statement released on Tuesday, the company said it had “detected unusual activity on [its] network” on Monday and had “immediately initiated a thorough security review.” As part of that review, Binance has suspended all withdrawals “until further notice.”
The hack is a major setback for Binance, which has grown rapidly in recent months to become one of the most popular cryptocurrency exchanges.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals of cryptocurrencies. The move comes after the exchange experienced a “large scale security breach” in which hackers stole 7,000 bitcoin (worth $40 million at the time). In a statement, Binance said it had discovered the hack on Tuesday and that the hackers had used a variety of techniques, including phishing, viruses and other attacks.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals amid “irregular” Bitcoin (BTC) transactions. The Malta-based company announced the move in a blog post on Feb. 8, saying it had “identified irregular trades” and was investigating the matter.
“To protect user funds, we have temporarily suspended withdrawals,” the company said. Binance did not elaborate on what it considered to be “irregular” trades, but said it would provide updates “as soon as possible.”
The move comes just days after Binance suffered a major hack that saw 7,000 BTC (worth around $40 million at the time) stolen from the exchange.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals of Bitcoin and Ethereum due to “irregularities” with its hot wallet. The announcement was made via the exchange’s official Twitter account on Wednesday, February 7.
“Binance has discovered irregularities with its hot wallet cluster and has taken action to suspend withdrawals while we investigate,” the tweet reads. “We are working to determine the root cause and will fully resume withdrawals once the issue is resolved.”
The news comes just days after Binance paused trading on its platform for two hours due to “server maintenance.” The exchange later said that the maintenance was “unrelated” to the issues with its hot wallet. At the time of writing, Binance has not provided any further details about the irregularity or when withdrawals will be resumed.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has stopped all withdrawals amid what it says is a “large scale” security breach. The hack appears to have been carried out through a sophisticated phishing attack. Binance says it detected “a large scale security breach” on May 7th at 02:00:00 UTC (May 6th at 10:00 PM EDT).
