Binance Halts Spot Trading Temporarily Due to Platform Issue

Last updated: March 24, 2023 1:35 PM

Published March 24, 2023 1:35 PM

Last updated: March 24, 2023 1:35 PM

Published March 24, 2023 1:35 PM

Binance, the world’s biggest cryptocurrency exchange, temporarily suspended spot trading due to a technical issue.

We are aware of an issue impacting spot trading on Binance.

All spot trading is currently temporarily suspended as we work to resolve this as soon as possible.

New updates will be shared here.
— Binance (@binance) March 24, 2023

The company tweeted that it is working to resolve the problem but did not provide further details on the cause or expected resolution time.

Users had mixed reactions to the news, with some expressing concern and others making jokes or suggesting decentralized exchanges as an alternative.

Binance CEO Changpeng Zhao tweeted a brief statement reassuring users that the issue was being addressed.

Binance has paused deposits and withdrawals as standard operating procedure while it resolves the issue, which is thought to have been caused by a bug in a trailing stop order.

The exchange estimates it will take between 30 and 120 minutes to fix.

Also Read: Binance Employees Preaches Chinese Netizens for KYC Breaching

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