Binance suddenly suspends trading?

Tram Ho

Binance bất ngờ tạm dừng giao dịch? - Ảnh 1.

According to information provided by TechCrunch, a few hours ago, Binance – the world’s largest electronic exchange had temporarily interrupted spot transactions. Users cannot execute buy and sell orders nor withdraw funds from the platform.

“Initial analysis showed that the matching engine encountered an error for the trailing stop order (this is a strange, uncommon error). The company will try to restore to the original within 2 hours,” according to a Twitter post by o – CEO of Binance.

However, according to newly updated information, the Binance side said that they have completed the maintenance and restored the deposit, withdrawal and spot trading functions on the exchange.

Cryptocurrency exchange Binance currently owns 60% of the total global spot trading volume. According to Arcane Research, in recent quarters, Bitcoin trading volume on this exchange has accounted for 90% thanks to its no-fee policy.

Currently Bitcoin is down about 1%, to $27,649 and Ethereum is down 2% to $1,751.

Binance’s trading disruption this time has some similarities with the “beginning” of the previous FTX incident. Fortunately, Binance has fixed it in time and has not had a big impact on global users.

Refer to TechCrunch

Share the news now

Source : Genk