Binance Halts All Crypto Withdrawals

https://cryptobriefing.com/binance-halts-crypto-withdrawals-citing-large-backlog/

by colesantiago • 5 years ago

34 30 5 years ago

Reebz• 5 years ago

BSC / BEP20 appears not to be impacted by this announcement, which is important. Within the platform only the Binance core chain is impacted as flagged by “congestion / suspended” labels.

mikeodds• 5 years ago

Pretty standard, happens frequently.

seibelj• 5 years ago

Anti-crypto people grasping for FUD straws anywhere they can as we hit all time highs. Exchange wallets, even at US exchanges like Coinbase and Gemini, regularly have periods of downtime.

kabdib2• 5 years ago

If this happens all the time, I'm genuinely curious: What distinguishes this from fraud?

cblconfederate6• 5 years ago

When paypal/banks put a temporary hold on transactions is that fraud? Binance is reputable among those who use it.

vmception2• 5 years ago

Nothing.

Its up to the user to keep their funds offchain so they never have to guess.

Funds on exchange (by quantity of assets) are at or near an all time low, so users are learning. No sympathy to other users, unless their funds were in transit.

GoblinSlayer• 5 years ago

Happens to fiat all the time too.

TacticalCoder• 5 years ago

If this happens all the time, I'm genuinely curious: What distinguishes this from fraud?

Fraud is when an exchange runs away with the customers' funds. If you had a legal money printing machine like Coinbase or Binance, would you keep your money press printing cash or would you steal your customers funds and risk prison?

acosmism• 5 years ago

is this just affecting the .com tld?

qeternity• 5 years ago

Important stablecoin announcement at 15.00 EST today...cynic in me says might be related

sparkling• 5 years ago

What announcement?

crhutchins• 5 years ago

It is alarming, especially with these circumstances in the market, but fortunately, withdrawals are fully functional after an hour of maintenance and fixes.

toolz2• 5 years ago

This is typical behavior for binance. I don't love it, but alarming? I'm not sure that typical behavior that they've displayed for years is alarming other than now all withdrawals were paused simultaneously which is new, but seems rather inconsequential since anyone who trades on binance knows they pause withdrawal on coins regularly.

clomond• 5 years ago

This happens often enough and is far from a new phenomenon.

Look up the meme and phrase “funds are safu” that covers this.

https://youtu.be/DelF6zEHXpE

vmception2• 5 years ago

Already resumed, non news.

https://twitter.com/binance/status/1455169923026653185?s=21

toolz2• 5 years ago

Binance halts withdrawals on tons of cryptos regularly and has done so for years. This isn't surprising to anyone who trades on binance. Guess it makes for a click-bait-y title though.

Binance Halts All Crypto Withdrawals

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