[ad_1]
Binance CEO Changpeng Zhao announced today on his Twitter account why they have stopped Ethereum (ETH) transactions on the exchange. Stating that there were some bottlenecks in the Ethereum network, Changpeng Zhao announced that they have temporarily closed their withdrawals as a result. In this post, Zhao added that transactions continue normally.
Binance, the largest cryptocurrency exchange in the world, suffered two technical failures today. According to the statements of the CEO of the exchange Changpeng Zhao, one of these is due to delays in the Ethereum network; another is derived from the cloud services used by the exchange.
Why did ETH stop trading?
Changpeng Zhao said in the tweet that he shared that there was congestion in the ETH network and some transactions could not be completed. Saying that some Ethereum transactions made on Binance were “blocked” on the network, Zhao said they had to stop transactions for this reason.
Zhao said that only withdrawals are affected, while other transactions such as deposits, trading, etc. They seem unaffected. The Binance CEO also pointed out that this was a “minor problem” and said the problem was resolved.
Cloud systems are experiencing delays
This was not the only “small problem” Changpeng Zhao explained. The stock exchange chief executive recalled that there have been some “delays” in the cloud services used by the company. Mentioning that this problem may be due to the data center, Zhao explained that they continue to address the problem.
The Binance CEO also said that these delays are under control for now and that Binance’s infrastructure is running smoothly for now.
Coinbase is also struggling with technical problems
Coinbase, the giant US cryptocurrency exchange, was also one of the exchanges that suffered technical malfunctions in the past 24 hours. The Coinbase team announced that there was a problem with Amazon Web Services in the post a few hours ago and they were trying to identify the source of the problem.
Coinbase; Although it has been eight hours since he made the second announcement, he has made no statement on the resolution of the problem. According to the exchange’s announcement, the issue is not yet with trading or other types of transactions on the platform.
