Crypto exchange Binance briefly halted withdrawals on its platform after experiencing a technical issue. The company launched an investigation, and an hour later, withdrawal resumed on the platform.
Binance Experiences Technical Issues
According to a post on social media platform X, withdrawals were paused due to an issue with the middleware service running on the platform. While crypto withdrawals were halted, users had access to fiat withdrawals.
Following an investigation that failed to provide details about the specifics of the issue, the crypto exchange restored the service. The company stated:
The issue is now fixed, and all crypto withdrawals on Binance are now back to functioning as usual. Thanks for your patience, and we apologize for the inconvenience.
In the crypto community, some took to X to promote their platforms over the centralized exchange. In particular, the team behind decentralized exchange (DEX) THORChain took the opportunity to remind users about their alleged advantages over Binance:
All cross-chain services deal with many, many issues and have to pause to deal with edge cases. The difference with TC is that you can jump in and see exactly what’s wrong at any time and don’t need a spokesperson so say “funds are safe” –…
