Binance-announces-scheduled-system-update-this-May-15-Withdrawals-and-suspended-deposits

Binance announces scheduled system update this May 15. Withdrawals and suspended deposits.

Through an official statement on the company's blog, Binance announced a scheduled update of its system for May 15, 2019, at 03:00 AM (UTC). The update indicates the release will take around 6-8 hours.

During that period of time withdrawals, deposits and transactions will be suspended has reported the largest exchange for volumes of operations, which suffered a hack last week with the loss of more than 7 thousand Bitcoins, about $ 56 million at the current exchange rate.

The company has also indicated that deposits that are not completed before the start of the update will be processed once this process is completed. As with any normal update process, it will take a period of time for users to see their updated balances reflected in their wallets.

Importantly, Binance indicates that once the update is ready, they will let the public know the culmination of this process and allow users to cancel any open order before resuming operations during a 30-minute window.

Binance highlights that the deposits, withdrawals and other functions related to the account as ‘settings' will be available once the update is completed.

They also reaffirm the transparency that has characterized Binance and demonstrated recently with the case of the 7k BTC hack, in which its CEO ‘CZ' publicly responded by Twitter all the concerns of the community in general in an online transmission.

Finally, Binance indicates that the scheduled time of 6-8 hours may vary, depending on the performance of the work to be performed, which suggests the possibility that it is greater or less than the estimated time.

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Coin Market Cap Price Change 24 Hour Volume
BTC $193.84B $10,903.2165 1.96% $8.02B
ETH $32.8B $307.5796 -0.73% $2.83B
XRP $19.65B $0.4623 -1.91% $687.58M
LTC $8.43B $135.0958 -3.49% $929.69M
BCH $8.39B $469.6454 -2.23% $390.49M
EOS $6.59B $7.1603 -2.25% $840.6M
BNB $5.28B $37.4180 -0.69% $216.79M
BSV $4.19B $234.9107 -0.76% $193.42M
USDT $3.52B $0.9978 0.60% $7.23B
TRX $2.58B $0.0387 3.89% $425.51M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.