Binance – This morning, the world’s fourth-largest cryptocurrency trading platform, Binance underwent a system upgrade that temporarily halted all trades.
#Binance has commenced the scheduled system upgrade. The upgrade will take approximately 4 hours.
Withdrawals and trading will be suspended during this period.
We apologize for any inconvenience caused and thank you for your patience. pic.twitter.com/Q7pCfQLkDY
— Binance (@binance) June 26, 2018
Trading was supposed to only last four hours, but with complications, ended up resulting in ten hours of downtime.
Data migration will take a little longer than expected, again. Apologies for the extension.
— CZ (@cz_binance) June 26, 2018
The upgrade was completed in seven hours, but then Binance’s risk management system detected a bug which resulted in a postponement of trades. During that time, Binance’s CEO informed the platform users that investors funds were safe.
>> Bithumb Hack
Back in Business – Info App
Binance trades and deposits began at 20:00 PM (UTC +8), but withdrawals were postponed until 1 to 2 hours after. Currently, the Binance platform seems to be running smoothly.
A tweet and Youtube video were recently deleted by Binance staffers about the platform’s new upcoming venture.
The video was uploaded and dated back to the 24th but showcased that Binance will be introducing its own information app. The YouTube video didn’t give specifics about what will be on the information app, but my guess is it will be similar news to that of Apple or Google news.
The information may be more centered around its Binance Coin (BNB) and news that will positively affect the site. I suspect any negative media will not be portrayed on the new app.
Currently, they are asking a limited amount of people to take part in their Beta testing of the app. If you are interested, click this link. It remains unknown when the official app will be released, but since it is already in its Beta stages it could be expected very soon. Hopefully, the company’s social media manager isn’t in too much trouble!
Featured Image: Shephard