Earlier on Monday, big league cryptocurrency exchange Binance announced that it was suspending all transaction withdrawals on its platform due to a “large backlog” of data. But, CEO Changpeng Zhao was quick to calm the nerves of users as he assured them that their funds were safe.
Binance Explained the Reason For Suspending Transactions
Using its official Twitter page, Binance then announced that funds were safe, and the company is working on the situation.
Meanwhile, following the first stoppage, Binance told users that withdrawal activity had been resumed. But, barely 20 minutes after the hurried announcement, the firm reversed that statement. The exchange platform then apologized to its worldwide customer base for the inconvenience, claiming that more updates will be shared as soon as they arrive. The tweet has now received no less than 5,213 likes and 1.1K comments however.
Meanwhile, some users of the Twitter app took the whole situation lightly repeating in a somewhat playfu
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