Binance suspended crypto withdrawal including some other crypto assets “due to a large backlog”.
Binance is the biggest crypto exchange by volume of the crypto space and is popularly known for its high-level Pro users experience to the crypto traders. But now it is facing a small technical issue.
Around 2 hours ago, Binance exchange announced to suspend all crypto withdrawals. The reason behind the stoppage was a “large backlog” request, as per Binance.
Further Binance exchange claimed that they will resume the crypto withdrawal facilities within 30 minutes but unfortunately Binance team failed to meet their promise.
However, for a small moment, Binance resumed crypto withdrawal smoothly but later again they closed because of some unidentified reasons.
But at the time of writing this article, Binance resumed withdrawal smoothly. Binance exchange tweeted through and wrote
“Crypto withdrawals have been resumed. Thank you for your patience, and we apologize for any inconvenience caused”
It was a big news sensation of the crypto industry for a while because many people faced issues with their crypto withdrawal. After that, many crypto players started to tweet “Not your key, not your coin”.
However, Binance CEO CZ assured the crypto community that all funds are safe and nothing to worry about.