Major cryptocurrency commutation Binance halted trading on its platform to resolve an unexpected technical issue with its infrastructure.

An announcement published by Binance on Feb. 19 notes that, due to unscheduled system maintenance, the commutation suspended nearly of its activities. More precisely, as of printing fourth dimension, it is not possible to perform "deposits, withdrawals, spot trading, margin trading, P2P trading, lending, redemption, as well equally nugget transfers from sub-accounts, margin accounts, futures accounts, and fiat wallets" on the platform.

In a statement shared with Cointelegraph, Binance reassured its users that partner exchanges such as Binance.U.s. were unaffected and that trading activity will resume before long.

No funds were lost

Binance co-founder and CEO Changpeng Zhao explained in a tweet sent earlier today that i of the market data pushers experienced an upshot, but the matching engine did non, so no funds or data were lost. He also said in a divide message that futures trading is standing ordinarily since it employs a separate matching engine.

In an attempt to compensate users for the marketplace disruption, Zhao also promised to waive the trader margin interests for today. In his latest update every bit of press time, he said that the issues are near resolved and that users will take 30 minutes to cancel their orders before normal trading resumes.

Just the latest trouble experience past Binance users

This is just the latest outcome experienced past Binance users this month. On Feb. 17, Binance released a dissever report on performance problems. In the report, the house admits that it did not anticipate the volume of users who recently started using its platform. The paper reads:

"Terminal week was a tough 1. [...] Nosotros had a number of operation issues, which negatively impacted the accessibility of our platform."

Per the report, Binance'south trading platform was unable to manage all users and go along market data, orders and balances upwardly to date. The business firm promises to solve these bug soon, and encourages users who were damaged by the performance issues to contact the exchange'southward support.

The fearfulness of unscheduled exchange maintenance

Some Twitter users expressed concern and fear that Binance may have fallen victim to a hack, simply there is no evidence suggesting that this is the case. In fact, the performance issues recently reported past the exchange and its users add further credibility to the crusade existence a uncomplicated technical trouble.