Crypto Exchange Binance Temporarily Suspends Withdrawals

Crypto exchange Binance temporarily suspended the withdrawal of all digital assets most probably due to high demand from traders.

May 10, 2021, | AtoZ Markets – On Monday, May 10, cryptocurrency exchange Binance suspended the withdrawal of all assets.

“Our team is working on this. We apologize for the inconvenience caused and thank you for your patience,” the company says.

Representatives of the trading platform did not disclose the reasons for the suspension. According to them, the request sent for withdrawal will be added to the queue and processed after the problem is resolved. At the time of writing, Binance had resumed withdrawal.

It’s not uncommon for crypto exchanges to deal with trading disruptions or errors, especially with thousands of new users flocking to websites hoping to trade the latest hot coin.

Read also: OKEx Withdrawal Suspension: Market Infrastructure Vulnerabilities Questioned

Binance has been attracting more than 300,000 user registrations a day, exceeding its previous peak reached in 2017.

Recall that on April 20, the crypto exchange suspended the withdrawal of Binance Coin amid record on-chain activity and heavy load on the platform.

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