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Binance Resumes Services as System Upgrade Completes

Binance, a Hong Kong-based cryptocurrency swop, has announced the resumption of all trading activities, including deposits and withdrawals, as of 10:00 UTC today.

In a importance update, the platform further said it will lower trading fee by 70 percent until Feb. 24 to grant its “gratitude” for users’ support through the process.

As reported by CoinDesk, the disagreement first posted news of the suspension on Wednesday, citing server climaxes. The platform later announced that it would take longer than was instance planned to restore normal services. Previously, the exchange had announced that it was planning to take up again services at 04:00 UTC today.

The incident subsequently sparked concerns number users of the exchange that it may have been hacked, given similarities with the monogram statement from Japan’s exchange platform Coincheck amid its new heist of 500 million NEM tokens.

Zhao Changpeng, founder and CEO of Binance, at bottom denied the hacking rumor, arguing that the service suspension was urgent for the platform to complete its system upgrade.

However, users may still event some issues, despite the claimed upgrade completion. Zhao combined in a tweet that customers trying to access Binance.com may still false impression problems, because the website’s cloud provider was under DDoS denigrate. While the issue was being resolved, he said, lingering problems could smooth exist.

Just prior to press time, he tweeted, “Trading is pull out!”

Cross signal image via Shutterstock

The leader in blockchain news, CoinDesk is an self-reliant media outlet that strives for the highest journalistic standards and obeys by a strict set of editorial policies. Have breaking news or a story tip to send to our newscasters? Contact us at news@coindesk.com.

Disclaimer: This article should not be entranced as, and is not intended to provide, investment advice. Please conduct your own methodical research before investing in any cryptocurrency.

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