On Facebook groups, many people reported being unable to transfer money between wallets on Binance - the world's largest cryptocurrency exchange, and unable to withdraw money from the platform.
“ I cannot place buy/sell orders, P2P transactions, or withdraw money from this platform ,” said user Tuan Anh on Facebook.
In addition, the charts of digital currencies remain unchanged, without any fluctuations. This raises suspicions that the exchange is having problems.
Users panic as Binance halts trading. (Photo: Reuters)
Not only in Vietnam, global users also have disrupted transactions and this situation has not been resolved yet.
Binance also admitted on Twitter that the platform is experiencing issues, but only affecting spot trading. Binance is working to resolve the issue as soon as possible.
The latest announcement on binance.com said that Binance has completed temporary system maintenance and will resume all trading activities at 14:00 on March 24, 2023 (UTC), which is 21:00 on March 24, 2023 (Vietnam time).
Starting now, users can cancel orders, process deposits, trade on P2P and perform lending, redemption, asset transfers and all other account-related functions.
Withdrawals will resume as soon as spot trading begins.
Trailing stop orders will be temporarily suspended until further notice. Existing trailing orders have automatically expired.
Margin and futures trading users with open positions should reassess their collateral balance before initiating spot trading to minimize potential price volatility.
Binance is the world's largest cryptocurrency exchange, accounting for 60% of global spot trading volume, according to Arcane Research. Bitcoin trading volume alone on this platform accounts for 90% thanks to its policy of not charging fees for this cryptocurrency in recent times.
Previously, Binance suspended USD deposits and withdrawals starting February 8. The company did not give a reason for the decision.
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