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Binance pauses trading due to ‘unscheduled’ system maintenance

Yogita Khatri

UPDATE (12:52 p.m. EST): Trading services, deposits and withdrawals have resumed, according to tweets from Zhao.

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Crypto exchange Binance has paused trading on its platform since 6:08 am ET today.

Binance CEO Changpeng “CZ” Zhao tweeted a thread, saying that the exchange is going under “unscheduled” system maintenance. 

Binance’s peer-to-peer (P2P) and most other trading services have been paused, while its futures trading platform is still working using a separate order matching engine, said CZ. 

In a separate statement, Binance said it has suspended deposits, withdrawals, spot trading, margin trading, lending, redemption, as well as asset transfers from sub-accounts, margin accounts, futures accounts, and fiat wallets.

CZ in his tweets said unplanned maintenance is due to issues with one of Binance’s market data pushers and that there has been "no data loss or corruption (other than market data)."

"Funds are #SAFU. No need to panic," he said, reassuring traders that the exchange is working to resolve the issues and that it should be fixed “soon.”

"Roughly 5/8 of the way there. But estimates are not 1:1 accurate to time. Balances etc are all intact. The only affected part is the market data," CZ added.