Binance resumes bitcoin withdrawals after closure for the second time
Binance resumes bitcoin withdrawals after closure for the second time
Cryptocurrency exchange Binance has suspended bitcoin withdrawals for the second time in 24 hours due to network congestion.
On Sunday, Binance suspended bitcoin withdrawals for about an hour, citing network congestion due to a record number of unconfirmed transactions.
Eight hours after bitcoin withdrawals were restored, the operation was suspended again, with no indication of when Binance would resume withdrawals after the second pause, according to the CoinDesk website.
The number of unconfirmed transactions exceeded 450,000, significantly more than during bitcoin's bull run in 2018 and 2021.
In an effort to reassure clients, Binance said that all funds were completely safe and that they should not worry.
On Monday morning, Binance resumed bitcoin withdrawals after suspending transactions twice in 12 hours. Binance said, "To prevent a similar recurrence in the future, our fees have been adjusted."
We previously reported that the U.S. Department of Justice had opened an investigation into Binance for sanctions violations.
The Binance exchange was founded in 2017 and offers its clients access to more than 400 cryptocurrencies, more than 25% of which are stablecoins used for conversion transactions. The crypto exchange has its own platform based on the TradingView toolkit, as well as an asset that is used in the Binance ecosystem as an internal unit of payment.
