Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog

Binance, the world’s largest crypto exchange, temporarily disabled all crypto withdrawals for a time on Monday due to a large backlog.

  • Withdrawals were resumed about 25 minutes after the stoppage was announced to customers on its Twitter account Monday. Twenty minutes after that announcement, however, the company tweeted an update that withdrawals had been closed again. At 13:48 UTC (9:49 a.m. ET), the company tweeted that withdrawals had resumed once again.
  • “There will be a temporary delay in withdrawal processing as the backlog is cleared. We expect this to last about 30 minutes,” Binance said in a tweet following the initial resumption.

UPDATE (Nov. 1, 12:35 UTC): Added Binance’s update that withdrawals were closed again.

UPDATE (Nov. 1, 14:03 UTC): Added Binance’s latest update that withdrawals had resumed.

Source: Coin Desk

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