Binance Users Still Experiencing Troubles After Number One Exchange Went Down Due to System Issue

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Mon, 02/11/2019 - 07:38
Alex Dovbnya
Changpeng Zhao’s ‘back to normal’ remark didn’t resonate well with the Binance community that is still having trouble working with the exchange
Binance Users Still Experiencing Troubles After Number One Exchange Went Down Due to System Issue
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Contents

 

Binance, the number one exchange by trading volumes, recently had a system issue, which resulted in downtime that lasted for a couple of minutes. Changpeng Zhao, the CEO of Binance, assured users that their funds are SAFU, but some of them are still having trouble accessing the exchange.  

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Excellent customer support

While some exchanges are trashed for unresponsive customer support, Binance usually excels in this department with CZ himself taking to Twitter to calm down indignant users. This black swan situation was no different given that CZ broke the news before his Twitter was swarming with complaints.
 

However, CZ only vaguely revealed the core of the problem, citing a certain ‘middleware issue’. Hence, some users wanted more clarity.

Has the issue been resolved?

Despite CZ claiming that everything should be back to normal, there are still tweets from traders who are not able to log in to their account or get an email for a withdrawal request. At the time of writing, it seems like they are still experiencing such inconveniences.  

Ensuring safety

Notably, Binance has never been hacked, which gives users a feeling of safety stability. On March 7, 2018, numerous speculations were spreading about a potential hack, but the number one exchange dodged a bullet with this one (hackers actually lost some funds as a result of the phishing attack).

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.