Finance suspended withdrawal of crypto assets due to mass registration of new users

The Binance cryptocurrency exchange temporarily suspended the withdrawal of crypto assets due to an increase in the volume of applications from new users. Asset withdrawal is now available.

About suspending Binance withdrawals
she announced on Twitter, apologizing to users for the temporary inconvenience. The exchange was forced to take such a step to deal with a large number of applications from new users who want to register on the platform. The number of deposits and transactions is also increasing, which creates a large load on the system.

Binance reassured users and informed them that all their assets are safe. In less than an hour, withdrawal operations were restored.

Withdrawals have now been reopened.

Thank you for your patience and welcome to all the new Binancians!

— Binance (@binance) January 29, 2021

This is reminiscent of the situation in 2018, when Binance temporarily stopped all operations due to abnormal transactions with the Syscoin cryptocurrency and unusual activity in the blockchain. As a precautionary measure, Binance had to stop registering new users and delete all valid API keys. As a result, all API users had to create new keys.

Binance has repeatedly gone on long technical work, suspending spot, margin and peer-to-peer trading. Problems occurred with the message routing service and market data providers. According to the CEO of Binance Changpeng Zhao, a serious load on the technical system of the exchange also played a role.

Recall that last week, Roskomnadzor lifted the blocking of the Binance website in Russia.