Binance Suspends Trading Due To Major Bug; CEO CZ Details Reason For Sudden Halt

Zinger Key Points
  • A bug detected in matching engine of trailing stop order.
  • Sterling deposits and withdrawals were halted last week.

Leading cryptocurrency exchange Binance has temporarily halted deposits and withdrawals on its platform due to issues impacting its spot trading.

The exchange's CEO, Changpeng Zhao, revealed in a tweet on Friday that a bug had been detected in the matching engine of a trailing stop order.

As a standard operating procedure, the exchange has paused deposits and withdrawals while the issue is being resolved.

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This follows Binance's decision last week to halt sterling deposits and withdrawals, which came a month after the exchange ceased dollar transfers.

Binance tweeted that it was aware of the issue affecting spot trading and has temporarily suspended all spot trading as their developers work to resolve the problem.

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Posted In: CryptocurrencyNewsMarketsBinancebugCryptocurrency ExchangeDepositsprocedurespot tradingStandard operatingWithdrawals
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