{"id":416851,"date":"2020-03-04T09:42:09","date_gmt":"2020-03-04T09:42:09","guid":{"rendered":"https:\/\/wncen.com\/?p=416851"},"modified":"2020-03-04T09:55:36","modified_gmt":"2020-03-04T09:55:36","slug":"binance-sees-sudden-maintenance-crypto-safu","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binance-sees-sudden-maintenance-crypto-safu\/","title":{"rendered":"Binance Sees Sudden Maintenance, Affirms Crypto is &#8220;SAFU&#8221;"},"content":{"rendered":"<p><strong>Update<\/strong>: Binance CEO CZ has just confirmed that the &#8220;issue has been fixed,&#8221; adding that systems (and crypto trading on the platform) should come back online in around 15 to 30 minutes, per his best guess.<\/p>\n<p>https:\/\/twitter.com\/cz_binance\/status\/90774787<\/p>\n<hr \/>\n<p>Around twenty minutes ago, crypto traders across Twitter started to report on Twitter that services at <a href=\"https:\/\/www.binance.com\/\" rel=\"nofollow\">Binance<\/a> weren&#8217;t working.<\/p>\n<p>Michael Van De Poppe, a trader at the Amsterdam Stock Exchange <a href=\"https:\/\/wncen.com\/?s=Michael+Van+De+Poppe&amp;lang=en\">whose work NewsBTC has covered in the past<\/a>, <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/35918080\" rel=\"nofollow\">posted<\/a> the below tweet trying to get the attention of Binance&#8217;s Changpeng &#8220;CZ&#8221; Zhao:<\/p>\n<blockquote><p>&#8220;Any news on the frozen Binance exchange? It&#8217;s 15 minutes already,&#8221; Van De Poppe wrote, adding in a later tweet that his data shows that the Bitcoin-to-Tether trading pair had not printed a single trade or data point for fifteen minutes.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hello <a href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@cz_binance<\/a>,<\/p>\n<p>Any news on the frozen Binance exchange? <\/p>\n<p>It&#39;s 15 minutes already. <\/p>\n<p>Thanks in advance,<\/p>\n<p>Traders Community.<\/p>\n<p>&mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/35918080?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 4, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others echoed these concerns, noting how other cryptocurrencies had also ceased trading, as had other parts of Binance&#8217;s roster of products.<\/p>\n<h2><strong>Don&#8217;t Worry, Binance CEO Affirms<\/strong><\/h2>\n<p>According to an update from CZ, though, trading has been &#8220;paused due to a message broker issue,&#8221; before adding that his team is &#8220;working on it&#8221; as he wrote the tweet. For the time being, nearly all services on Binance have been suspended, as a support post <a href=\"https:\/\/www.binance.com\/en\/support\/articles\/360040075852\" rel=\"nofollow\">explains<\/a>:<\/p>\n<blockquote><p>&#8220;Binance has suspended deposits, withdrawals, spot trading, margin trading, P2P trading, lending, redemption, as well as asset transfers from sub-accounts, margin accounts, futures accounts, and fiat wallets.&#8221;<\/p><\/blockquote>\n<p>https:\/\/twitter.com\/cz_binance\/status\/13724161<\/p>\n<p>While some have been worried about the safety of the crypto stored on the exchange, CZ later confirmed that as this is <em>not<\/em> a funds issue, &#8220;funds are SAFU.&#8221;<\/p>\n<h2>Crypto Exchanges Have Been Having All Sorts of Problems<\/h2>\n<p>It&#8217;s an industry-wide issue, then, that exchanges have been struggling with maintaining 100% uptime over recent weeks.<\/p>\n<p>Per <a href=\"https:\/\/wncen.com\/2020\/02\/28\/bitfinex-hit-ddos-attack-bitcoin-price-drops-coincidence\/\">previous reports from NewsBTC<\/a>, last Friday, Bitfinex\u00a0<a href=\"https:\/\/twitter.com\/bitfinex\/status\/41640448\" rel=\"nofollow\">began<\/a>\u00a0\u201cinvestigating what seems like a distributed denial-of-service\u201d attack (DDoS) attack on its exchange.<\/p>\n<p>Data from the site showed that the site response time and data throughput started to vary dramatically at 6:40 am GMT, eventually reaching a point where the site crashed around 8:00 am GMT, spurring the exchange to respond. About an hour after it began investigating the attack, services for the exchange came back online.<\/p>\n<p>This came a day after OKEx, one of the largest Bitcoin exchanges in Asia, reported a DDoS attack that didn\u2019t affect any users. OKEx\u2019s CEO accused a \u201ccompetitor\u201d of launching the attack.<\/p>\n<p>The DDoS attacks are <em>decisively different<\/em> than Binance&#8217;s message broker issue, which left the site online but trading services down.<\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Update: Binance CEO CZ has just confirmed that the &#8220;issue has been fixed,&#8221; adding that systems (and crypto trading on the platform) should come back online in around 15 to 30 minutes, per his best guess. https:\/\/twitter.com\/cz_binance\/status\/90774787 Around twenty minutes ago, crypto traders across Twitter started to report on Twitter that services at Binance weren&#8217;t working. Michael Van De Poppe, a trader at the Amsterdam Stock Exchange whose work NewsBTC has covered in the past, posted the below tweet trying to get the attention of Binance&#8217;s Changpeng &#8220;CZ&#8221; Zhao: &#8220;Any news on the frozen Binance exchange? It&#8217;s 15 minutes already,&#8221; Van De Poppe wrote, adding in a later tweet that his data shows that the Bitcoin-to-Tether trading pair had not printed a single trade or data point for fifteen minutes. Hello @cz_binance, Any news on the frozen Binance exchange? It&#39;s 15 minutes already. Thanks in advance, Traders Community. &mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) March 4, 2020 Others echoed these concerns, noting how other cryptocurrencies had also ceased trading, as had other parts of Binance&#8217;s roster of products. Don&#8217;t Worry, Binance CEO Affirms According to an update from CZ, though, trading has been &#8220;paused due to a message broker issue,&#8221; before adding that his team is &#8220;working on it&#8221; as he wrote the tweet. For the time being, nearly all services on Binance have been suspended, as a support post explains: &#8220;Binance has suspended deposits, withdrawals, spot trading, margin trading, P2P trading, lending, redemption, as well as asset transfers from sub-accounts, margin accounts, futures accounts, and fiat wallets.&#8221; https:\/\/twitter.com\/cz_binance\/status\/13724161 While some have been worried about the safety of the crypto stored on the exchange, CZ later confirmed that as this is not a funds issue, &#8220;funds are SAFU.&#8221; Crypto Exchanges Have Been Having All Sorts of Problems It&#8217;s an industry-wide issue, then, that exchanges have been struggling with maintaining 100% uptime over recent weeks. Per previous reports from NewsBTC, last Friday, Bitfinex\u00a0began\u00a0\u201cinvestigating what seems like a distributed denial-of-service\u201d attack (DDoS) attack on its exchange. Data from the site showed that the site response time and data throughput started to vary dramatically at 6:40 am GMT, eventually reaching a point where the site crashed around 8:00 am GMT, spurring the exchange to respond. About an hour after it began investigating the attack, services for the exchange came back online. This came a day after OKEx, one of the largest Bitcoin exchanges in Asia, reported a DDoS attack that didn\u2019t affect any users. OKEx\u2019s CEO accused a \u201ccompetitor\u201d of launching the attack. The DDoS attacks are decisively different than Binance&#8217;s message broker issue, which left the site online but trading services down. Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":416852,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,1273,6664,4189],"class_list":["post-416851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-changpeng-zhao","tag-crypto","tag-trading"],"acf":[],"yoast_head":"\n<title>Binance Sees Sudden Maintenance, Affirms Crypto is &quot;SAFU&quot;<\/title>\n<meta name=\"description\" content=\"Update: Binance CEO CZ has just confirmed that the &quot;issue has been fixed,&quot; adding that systems (and crypto trading on the platform) should come back\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/binance-sees-sudden-maintenance-crypto-safu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Sees Sudden Maintenance, Affirms Crypto is &quot;SAFU&quot;\" \/>\n<meta property=\"og:description\" content=\"Update: Binance CEO CZ has just confirmed that the &quot;issue has been fixed,&quot; 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