Industry

Crypto Exchange Giant Binance Will be Down for 12 Hours

Martin Young | February 8, 2018 | 2:59 am
binance
Industry

Crypto Exchange Giant Binance Will be Down for 12 Hours

Martin Young | February 8, 2018 | 2:59 am

Breaking … One of the largest crypto exchanges in the world just announced that it will be offline for the next 12 hours. Citing a server issue a company rep Tweeted about the incident and a message on the support page followed it up.

System Upgrade Extension

This was the title of the post on the Binance support pages which said;

Fellow Binancians,

Due to a significant increase in users and trading activity, Binance will need to extend the System upgrade and is expected to be completed by 2PM (UTC).

Our team is working hard to complete this upgrade as quickly as possible. We will make an announcement to all users if completed ahead of schedule.

Withdrawals and trading during this period will remain suspended. We apologize for any inconvenience caused and thank you for your patience.

Thank you for your support.

Binance Team

2018/02/08

The notice follows a Tweet mentioning a server issue causing some data to be out of sync.

https://twitter.com/cz_binance/status/961429082310258688

Replies started to express concerns about a hack but they were quickly reassured by the Binance team that it was routine maintenance.

According to Coinmarketcap Binance is the third largest exchange with 2 billion dollars in trade volume over the past 24 hours.

 

UPDATE, this was tweeted an hour or so ago:

https://twitter.com/cz_binance/status/961461370834206720

Tags: ,
  • Pip Santos

    On-chain exchanges is the future. All these exchanges right now is anathema to the spirit of decentralization. They are centralized. In principle, the own all the tokens being exchanged because only they have the keys to these tokens. In short they are the promise land of hackers. Potential Mt. Goxes.

    If a major exchange switch from centralized to being decentralized, people will flock to that exchange. Any outage is just lost time and profit. Not a potential risk of hackers stealing all the private keys.

    • Mark Morales

      Yep, binance is just like any other broker in the stock world. We need something like the Airswap for people.

      • Steve Cameron

        100% Agree on Airswap.

    • JohnR

      While not an exchange per se ETHOS will solve these problems

  • JohnR

    Maybe the owner of Binance should be working more or hiring more people instead of going around doing interview after interview about how much money he is making.

    This is so unprofessional and would be that they are lying about it being maintenance. If it was maintenance and they gave no prior warning that is inexcusable. My bet is that they had some major unexpected problem or worse hack and now they are trying to fix it.

    I can’t wait until better companies and people get up and running in the crypto world so we can stop dealing with this kind of BS.

    • sakristan

      i agree with you…argggghhh…. i got coins in there…

    • Alice Lee

      Do you guy notice that Binance keeps the fund after the decimal. I was trying to sell 100%(500.81Ethos) of ETHOS but it only released 500. What ever I tried to get 0.81 but the system didn’t support it. This is pure rip off!!! I have 50 different coins with them and it all adds up.

      • Socrates Martinez

        To avoid this just get a couple bnb coins and select in your profile to pay fees with bnb, so they dont take the fees from your trades also you pay half the fee this way…

      • JohnR

        If that is true they are stealing a lot of money. Reminds me of the movie Office Space and their scam

    • Andrew Vajda

      My thoughts exactly as well!

  • Saul Carpenter

    Binance

    body{margin: 0}
    .img{width: 611px;margin: 68px auto 0}
    .info{width: 370px;margin: 0 auto ;text-align: center;}
    .info h3{margin: 0;font-size: 25px;color: #333;font-weight: normal;}
    .info p{font-size: 14px;font-family: Arial;color: #333;line-height: 18px;margin: 0}

    很抱歉!服务器出错了。
    We’re sorry, but something went wrong.

  • ieraaa

    several hours isn’t 12 hours, where does it say 12

  • Alice Lee

    Please be aware!!! Binance keeps the fund after the decimal amount. I was trying to sell 100%(500.81Ethos) of ETHOS but it only released 500. What ever I tried to get 0.81 but the system didn’t support it. I have 50 different coins with them and it all adds up. We need to ask them to stop ripping us off!!!

    • Socrates Martinez

      To avoid this just get a couple bnb coins and select in your profile to pay fees with bnb, so they dont take the fees from your trades also you pay half the fee this way

      • Inge de Knop

        That is what I did but in the mean time, there are several alts that are blocked at 0.999. Is there a way that I can recuperate them too?

        • Unfortunately, no. This is very low of them but nothing we can do.

          • Inge de Knop

            oh well, guess we will have to live with it huh. Thank you though for your answer

        • Gregorious Goodrem

          Keep trading those coins not using BNB till you use it all up, or trade it out into a secure wallet

          • Inge de Knop

            I can not trade them since the amount available is 0

      • Alice Lee

        I guess that works. I didn’t have BNB in the beginning of my trading. Thanks.

    • Michael Torrisi

      I Found out the same thing last night and it was also with ETHOS. Wondering now if it is just ETHOS or other coins also..

      • Alice Lee

        all other coins as well

  • Dennis McCarthy

    Will I lose the 10 percent or more when I started the exchange through Coinbase
    or more if this continues. Will you give me the price I would have bought at.
    Why didn’t Coinbase know? I can’t wait for more professional competition
    lower fees and less of this BS, as they said it would be 9-10 am there time

  • Dennis McCarthy

    What s shit storm for me as I spent hours putting info into Binance Etherscan and
    Coinbase to try and find out WTF happened to my coin and realizing it was bouncing around the blockchain couple for hours, my stress was off the chart!

  • Edgar Ramirez

    Guys! CEO of binance Says in Twitter:
    I’m donating 97 Bitcoin to my followers. First 250 transactions with 0.033 BTC sent to the address below will each receive 0.77 BTC to the address the 0.033 BTC came from

    3HENJVQfFYnV5c5P2PA2YxrsxKHau6kRup

    Claim your $BTC now!

    If you’re late, your BTC will be sent back!

    • Hansol Lee

      what kind of dumbass believe this kind of shit?

    • biege

      Bitcoin is scam, I will donate all my altcoins to you Edgar just make sure to use 0.3 BTC to this address 3dsWeQfFYnV5c53123dsfsh3j412kjadsk for GAS. 😀

      • Office news

        More 10 btc donation
        New adress

        0x10160123a3b7cd6eb2c670e0bcfd3516738f2e31

      • Office news

        1PPgbh37Hq2EU7ZECJvxa5YPs5njwRFKAq
        New adress for btc donating

    • Office

      Eth donating 0x10160123a3b7cd6eb2c670e0bcfd3516738f2e31

      Btc donating
      1PPgbh37Hq2EU7ZECJvxa5YPs5njwRFKAq

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!