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Binance, one of the world’s largest cryptocurrency exchanges, has announced that it has resolved technical issues that had caused withdrawals to be temporarily suspended.
In a statement released on Thursday, Binance said that withdrawals had resumed as of 10:20 AM UTC. The exchange had earlier notified users of “temporary system maintenance” that was affecting withdrawals.
“We apologize for any inconvenience caused and thank you for your patience and understanding,” Binance said in the statement.
The technical glitches had been causing frustration among Binance users who were unable to withdraw their funds. Some users had taken to social media to express their concerns and ask for updates.
Binance did not provide details on the nature of the technical issues or how long they lasted. However, the resumption of withdrawals is a welcome relief for users who rely on Binance for their cryptocurrency trading needs.
Binance has been in the news lately due to increased scrutiny from regulators in various countries. In recent weeks, authorities in the United Kingdom, Japan, and Canada have issued warnings about Binance operating without proper licenses.
Despite the regulatory challenges, Binance remains a popular choice for cryptocurrency traders due to its extensive range of trading pairs and low trading fees.
The resumption of withdrawals is likely to reassure users that Binance is taking steps to address its technical issues and maintain the reliability of its platform.
Overall, Binance’s announcement that withdrawals have resumed following technical glitches is good news for the cryptocurrency exchange and its users.