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Binance Suspends All Withdrawals for Customers

News
Mon, 05/10/2021 - 11:25
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Yuri Molchan
Top-tier exchange Binance has blocked all withdrawals temporarily, the community is enraged
Binance Suspends All Withdrawals for Customers
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Leading crypto exchange Binance has announced in a tweet the suspension of withdrawals for all assets.

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Image via Twitter

Earlier today, it announced the temporary closing of withdrawals for ETH and XLM due to large volumes reached by these currencies.

Prior to that, ETH had surged above the $4,100 level, reaching a new all-time high, and Stellar Lumens hit $0.74—the level last seen back in early 2018.

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Binance Suspends ETH, XLM Withdrawals as XLM Surges to Highest Level Since 2018

The Binance team has assured users that it is working hard to resolve the issues and resume withdrawals. Meanwhile, the thread below the tweet is full of enraged comments regarding the situation. Users are complaining that these holdups are causing them big financial losses.

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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 yuri.molchan@u.today.