Binance suspends spot trading

Binance cryptocurrency exchange has announced the suspension of trading, but has yet to reveal why.

According to CEO Changpeng “CZ” Zhao, a preliminary analysis revealed that the matching engine had a bug on trailing stop orders.

He said deposits and trading were suspended as a standard procedure. Services will resume in approximately 30-120 minutes, with more accurate estimates imminent.

“We are aware of an issue affecting spot trading on Binance,” the exchange said. Tweeted, “All spot trading is currently temporarily suspended as we work to resolve this as quickly as possible.”

The exchange is the world’s largest by trading volume.

This is a breaking news.


BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

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