Binance Crypto Withdrawals Temporarily Unavailable Due to Technical Issues
The last withdrawal from one of Binance's Ethereum accounts was sent at 10:45 UTC
Crypto withdrawals on Binance are temporarily unavailable due to a "technical issue," according to a post on the exchange's X account.
"We are experiencing a technical issue with crypto withdrawals," the post on the platform formerly known as Twitter, said. "As a result, they are temporarily unavailable whilst our team works on the fix. Fiat withdrawals are available and working. All funds are SAFU. We apologize for the inconvenience and will update on progress."
According to etherscan, one of the exchange's wallets last processed a withdrawal at 10:45 UTC; the update was posted 18 minutes later.
"Technical issue with a middleware service impacting withdrawals. Funds are SAFU. Our team is on it," CEO Changpeng "CZ" Zhao tweeted.
The rise in activity comes alongside a hike in the price of bitcoin (BTC), which is trading at $34,300 after rallying to a 16-month high on Tuesday.
The outage comes after around $100 billion was traded across all crypto venues on Tuesday, the highest daily volume since the FTX crash in November, 2022, according to CoinMarketCap.
The rise in activity comes alongside a hike in the price of bitcoin (BTC), which is trading at $34,300 after rallying to a 16-month high on Tuesday.
Binance last halted withdrawals in 2021, at the time citing a "heavy backlog." That outage lasted around 25 minutes.
