Binance Outage Causes Spot Trading and Withdrawal Suspension
TL;DR Summary
Binance, the world's largest cryptocurrency exchange, experienced a two-hour outage on its spot markets due to a software bug related to the trailing stop loss feature. The outage caused a $700 dip in the price of bitcoin, but by the time Binance trading came back online, bitcoin had returned to about the $28,000 level. Binance CEO Changpeng "CZ" Zhao described the event as "unlucky" and stated that the outage followed "standard operating procedure."
- Binance Suffers Two-Hour Spot Market Outage Due to Software Bug CoinDesk
- Crypto giant Binance resumes withdrawals and spot trading after glitch caused outage TechCrunch
- Binance halts deposits, withdrawals after technical glitches - CEO Reuters
- Binance suspends all spot trading on its platform after software glitch Financial Times
- Bitcoin Drops After Binance Pauses Spot Trading, Deposits And Withdrawals Forbes
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
2 min
vs 3 min read
Condensed
86%
533 → 73 words
Want the full story? Read the original article
Read on CoinDesk