Binance’s brief pause of Ethereum withdrawals leaves community perplexed
Binance paused ERC-20 withdrawals without offering a credible explanation, letting speculation about its true motives run wild. Binance had a hiccup with its withdrawals for Ether (ETH) and all ERC-20 assets on Friday, with users being unable to access any of their Ethereum-based assets for about one hour. The pause came abruptly, as the exchange's Twitter account notified users that Binance had “temporarily suspended withdrawals of ETH and Ethereum-based tokens in order to address a congestion issue.”Binance reassured that “funds are SAFU,” but did not provide any further details. About....
Related News
A temporary pause on Bitcoin withdrawals has been imposed on the world’s largest exchange, Binance. Crypto’s Black Monday continues to wreak havoc. Changpeng “CZ” Zhao, CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals.Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update. Funds are SAFU.— CZ Binance (@cz_binance) June 13, 2022 CZ, who often lends his opinion on projects and the market, regularly tweets on behalf of Binance to his 6.4 million....
With all of the drama surrounding Tokyo-based Mt. Gox, users of the service and bitcoin community members alike are eagerly awaiting to see what the company says next on the status of withdrawals. Just a reminder: thursday is the day, according to a news update provided Monday by the exchange, who said they are expecting to resume withdrawals "soon", albeit with daily and monthly limits in place. These limits are likely designed to prevent the exchange from crashing completely. With the bitcoin community running out of patience (and confidence) in the service's ability to run reliably, it....
On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra whistleblower called Fatman warned people about Hodlnaut’s alleged issues.
Another Crypto Platform Freezes Operations Citing Recent Market Conditions
Another crypto exchange and lending platform, called Hodlnaut,....
In a post-mortem issued shortly after it lifted the freeze on bitcoin withdrawals, Binance has identified the “repairing of several minor hardware failures on wallet consolidation” as the incident that ultimately forced it to pause withdrawals. To fix the problem and to stop this from recurring, Binance said it changed the logic “to only take successful UTXO from consolidation transactions or successful withdrawal transactions.”
Minor Hardware Failures
Binance has said bitcoin withdrawals on its Bitcoin network have resumed just hours after “a....
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 […]