Binance resumes Bitcoin withdrawals after temporary closure

1 min read 07 May 2023, 08:56 PM IST Livemint

Binance says currently working on a fix until the network is stabilized and will reopen BTC withdrawals as soon as possible .

Binance logo is seen in this illustration (REUTERS)

Crypto exchange Binance said that it has resumed Bitcoin withdrawals after a brief closure due to a congestion issue. Earlier, Binance said that it temporarily closed BTC withdrawals as the Bitcoin network is experiencing a congestion issue. Binance says currently working on a fix until the network is stabilized and will reopen BTC withdrawals as soon as possible .

We've temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue.

Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals as soon as possible.

Rest assured, funds are SAFU.
— Binance (@binance) May 7, 2023

Binance had paused withdrawal of Bitcoin, the world's largest cryptocurrency, for more than an hour.

Binance did not provide any further details on the issue.

The world's largest crypto exchange on March suspended deposits and withdrawals on its platform due to technical issues that affected spot trading.

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Updated: 07 May 2023, 08:56 PM IST