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Binance Goes on Unscheduled Maintanance, Community Afraid to Lose Funds

Wed, 02/19/2020 - 12:53
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Yuri Molchan
The crypto trading behemoth Binance has announced a sudden maintenance. The community has become indignant since many have open positions
Binance Goes on Unscheduled Maintanance, Community Afraid to Lose Funds
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The Binance exchange has taken to Twitter to spread the word about unscheduled maintenance without stating how long it will take.

Binance undergoes urgent maintenance

The announcement from the site of the exchange says that the platform is conducting a temporary system maintenance. All operations, including deposits, withdrawals and all sorts of trading, have been suspended together with asset transfers between all types of accounts.

However, trading on Binance Futures remains operational despite the situation. The company promises to do its best to resume trading as soon as possible.

Funds are SAFU, CZ tweets.


Community’s not happy

Judging by the responses in the comment thread, the community is far from happy about or tolerant of the situation.

Some are reporting that they have trading orders open. Others are accusing Binance of being unprofessional for not estimating the time the maintenance will take.

Analyst Michael van de Poppe seems to be harboring a grudge against Binance – previously he criticized the exchange for adding new pairs for leverage trading while the functionality of the site left a lot to be improved.

Now, he is again bashing Binance and asking CZ to provide an investigation report about the reasons for the uphold later on.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at