CoinDesk Consensus

Binance said it has temporarily suspended spot trading on its platform due to an unnamed issue.

The crypto exchange tweeted that it is aware of the issue affecting spot trading and is working to resolve it soon.

The exchange did not provide any additional information regarding the issue.

Binance CEO Changpeng ‘CZ’ Zhao described the issue as “strange.”he Said:

“Initial analysis indicates that the matching engine encountered a bug with trailing stop orders.”

He added that deposits and withdrawals have been suspended as a standard operating procedure, assuring users that the thieves’ funds were safe. He expected recovery to take between 30 minutes and two hours. I’m here.

binance status page Indicated All cryptocurrency withdrawal and deposit functions on the platform were suspended.

Binance has yet to respond of crypto slate Request for comments at time of writing.

Following this news, Bitcoin (BTC) plunged 1.39% on the hourly chart to $.27,635, according to crypto slate data.

By Jules

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