Binance halts BTC withdrawals, CZ says funds are Secured Asset Fund for Users
Binance paused its Bitcoin transactions on Monday for more than three hours over technical issues
By Shashank Bhardwaj
Binance, one of the world’s premier cryptocurrency exchanges, paused its Bitcoin withdrawals this Monday because of a ‘stuck on-chain transaction’.
The crypto exchange platform resumed withdrawals after 11:30 am EST (9:00 pm, IST), which was some three and a half hours after the CEO of Binance, CZ, Changpeng Zhao, tweeted that the issue would be fixed in around 30 minutes. Shortly after, he followed up, saying that the fix would take “a bit longer” than the initial estimate.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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