Binance crypto withdrawals return to normal following system backlog
The company announced a halt in withdrawal activity via their official Twitter account on Monday morning which lasted for just over 2 hours. Major cryptocurrency exchange Binance announced the suspension of all transaction withdrawals on its platform on Monday morning due to a “large backlog” of data. CEO, Changpeng Zhao, assured all users that funds were safe, before the functionality was restored. The platform shared this announcement on their official Twitter page via a thread, stating:We're on it. Funds are SAFU. https://t.co/LbJbZsVhl0— CZ Binance (@cz_binance) November 1,....
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Binance, the world’s largest crypto exchange with over 28 million users, said early Monday that it had temporarily suspended all crypto withdrawals on its website. The exchange attributed it to “a large backlog.” We have temporarily disabled all crypto withdrawals on https://t.co/QILSkzx7ac due to a large backlog. Rest assured our team is working on it […]
The largest Bitcoin exchange, MtGox, has announced that they are resuming USD withdrawals around the world, putting an end to two weeks of hiatus. A long backlog of withdrawal requests had been accumulated over the period, so it will take over a month before processing times finally return to normal, but MtGox expects that the main disruptions are now over. "Mt. Gox has now formed relationships with several new banking partners both in Japan and around the world," the press release reads, "and we are still in the process of finalizing even more. This means that we will have increased....
Shanghai-based bitcoin exchange BTCC has announced that it will halt bitcoin and other cryptocurrency withdrawals for one month. The news, posted to its website today, comes one week after Huobi and OKCoin, two of the country's 'Big Three' exchanges alongside BTCC, revealed they would prohibit cryptocurrency withdrawals as part of an effort to combat money laundering at the request of China's central bank. At the time, BTCC said it would undertake a similar upgrade, but that it would only take 72 hours to complete. According to the update, however, BTCC plans to continue the audit of its....
It has been a heated start of the week for the crypto community. Crypto exchange Binance temporarily suspended withdrawals on the Bitcoin network. This happened the same day as Celsius halted all withdrawals, raising liquidity concerns. Naturally, many users started to worry about Binance as well. Disclaimer: The following op-ed represents the views of the […]
Many social media users seem to be waiting for other crypto exchanges, including Coinbase and Kraken, to follow in Binance's and Celsius' footsteps by suspending withdrawals. Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility. In an update during what many are calling cryptocurrency’s "Black Monday," Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that....