Crypto exchange Binance blocks Bitcoin withdrawals

Monday 13 June 2022 15:50 CET | News

Crypto exchange Binance has blocked Bitcoin withdrawals amid a market downturn.

Binance is a blockchain and cryptocurrency infrastructure provider with a financial product suite that includes a digital asset exchange. This has left users unable to retrieve their money as the price of Bitcoin dropped. According to a Binance representative, a stuck transaction meant there was a backlog in the company’s systems meaning it was unable to fulfil people’s requests.

However, a Binance representative confirmed via Twitter that people’s funds were safe and assured users that the problems were due to take approximately 30 minutes to fix. Later, however, it was added that the issue would take a bit longer to fix than the representatives’ initial estimate. The representative restricted the replies to the tweet which resulted in only people he followed being permitted to respond to it publicly. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: cryptocurrency, cryptocurrency exchange, crypto asset, digital assets, Bitcoin
Categories: DeFi & Crypto & Web3
Companies: Binance
Countries: World
This article is part of category

DeFi & Crypto & Web3


Discover all the Company news on Binance and other articles related to Binance in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events