The exchange is expected to be down for several hours following an undisclosed incident that the CEO says was not a hack.
Cryptocurrency exchange Binance.US has halted all trading and orders following an undisclosed disruption in its system, but has assured users that all funds are safe.
The exchange expects to be down for the next six hours.
“At 11:26am EST, we noticed our systems not functioning as intended. To protect our users, we will be stopping trading, order processing, buy crypto, deposits, and withdrawals. We will let users cancel their orders 30min before we reopen trading. We expect this will take 6 hours,” reads the first tweet that went out.
Binance.US followed that up with a tweet stating that “Funds are #SAFU,” and CEO Catherine Coley added, “We will be updating all of you while we get more information on this situation as our team works diligently to restore service to all of our users. Your funds are safe.”
We will be updating all of you while we get more information on this situation as our team works diligently to restore service to all of our users. Your funds are safe. https://t.co/tteBlQOP2d
— Catherine Coley (@cryptocoley) August 7, 2020
In response to a question of whether it was a hack, Coley tweeted, “Not hacked. We are working on resolving it ASAP and taking precautions in advance to protect our users.”
It’s not yet clear what happened to cause the disruption in the system, aside from Coley stating that it was not a hack, although it understandably has a lot of users concerned across social media right now.
Decrypt has reached out to Binance.US for additional information and will update the story once we know more.
GIPHY App Key not set. Please check settings