Binance pauses bitcoin withdrawals, citing high volumes

by James · May 7, 2023

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IN FOCUS

Reuters

Updated: 05/08/2023 07:44 IST | Created: 05/08/2023 07:44 IST

Cryptocurrency exchange Binance halted bitcoin withdrawals on Monday for the second time in a day, citing large volumes.

“Our team is currently working on a solution and will reopen (bitcoin) withdrawals as soon as possible,” the company said in a tweet. It said withdrawals were closed temporarily “due to the large volume of pending transactions.” Earlier in the day it had paused withdrawals for about an hour.

In March, Binance, the world’s largest crypto exchange, suspended deposits and withdrawals citing technical issues. Bitcoin fell about 1% to $28,191, its lowest in nearly a week.

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)