Chief Executive Changpeng Zhao confirmed that the platform has suspended deposits and withdrawals on its platform due to technical issues.
Cryptocurrency exchange Binance has suspended deposits and withdrawals on its platform due to technical issues affecting its spot trading.Chief Executive Changpeng Zhao said in a tweet on Friday.
“Initial analysis indicates that the matching engine found an error in an order”he said in a tweet, adding that the pause on deposits and withdrawals is standard operating procedure.
“Engine 1 is back online. We still need more time to do the reconciliations, and for other engines to catch up,” Zhao said in a subsequent tweet.
Last week, Binance, the world’s largest cryptocurrency exchange, said it would suspend sterling deposits and withdrawals, a month after it ceased dollar transfers.
The cessation of traditional currency transfers comes amid a growing crackdown on cryptocurrencies by US authorities.
The Justice Department is investigating Binance on suspicions of money laundering and sanctions violation.
A senior Binance executive told The Wall Street Journal and Bloomberg last month that the firm expects to pay fines to resolve US investigations into the company.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
