Binance temporarily suspends crypto trading

Binance, one of the world’s largest cryptocurrency exchanges, has temporarily suspended trading.

Changpeng Zhao, CEO of Binance, tweeted on Feb. 7 at 6:38pm EST that Binance was experiencing a server error that will take several hours to resolve, adding that “no data is lost.”

Binance image 4994994
Binance, a global cryptocurrency exchange, has a platform where over 100 cryptocurrencies are traded.

Mr Zhao said:

“We experienced a server issue on our replica database cluster, causing some data to be out of sync. Need to fully resync from master. Due the size of the data, it will take several hours. No data is lost. We appreciate your understanding and support.”

The Binance official Twitter said that the exchange is “on track for trading to recommence at 4 am UTC 2018/02/09.”

Was it hacked?

Binance registers daily trades in the billions and the outage has raised concerns that it might have been hacked.

John McAfee, founder of software company McAfee Associates, said on Twitter that rumours “are flying among top crypto influencers” that they may have been hacked.

Binance responded to the rumors that its system had been compromised, stating that the exchange had not been hacked and asked people to not spread false information.

Zhao Tweeted that nobody had hacked the exchange.


Source: @cz_binance


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