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.
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.
Experienced a middleware issue, some users were affected for 30 minutes or so. Everything should be back to normal now. Sorry about any inconveniences caused. Funds are #safu.
— CZ Binance (@cz_binance) February 11, 2019
However, CZ only vaguely revealed the core of the problem, citing a certain ‘middleware issue’. Hence, some users wanted more clarity.
Whats a middleware issue?
— }{¥€]@¢k (@hyejack1) February 11, 2019
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.
Still not able to login to my account sir no 2-factor code is being received . please help me
— Anish Jain (@JainAnish94) February 11, 2019
Not getting email for withdrawal request
— Maine (@moneymaine) February 11, 2019
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).
Godfrey Benjamin
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