Bitcoin
$38,198.98+0.87%
Ethereum
$2,091.71+2.77%
Binance Coin
$227.87+1.01%
XRP
$0.60945964+0.83%
Solana
$60.80+0.81%
Cardano
$0.37880572+0.07%
Dogecoin
$0.08435886+3.46%
Tron
$0.10992502+4.30%
Chainlink
$14.69+1.53%
Avalanche
$22.18+5.11%
Toncoin
$2.28-7.05%
Polygon
$0.77160704+1.45%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

Binance Crypto Withdrawals Back Online After Temporary Outage

The last withdrawal from one of Binance's Ethereum accounts was sent at 10:45 UTC.

By Oliver Knight
AccessTimeIconOct 25, 2023 at 11:22 a.m. UTC
Updated Oct 25, 2023 at 12:52 p.m. UTC
Two large stacked blocks displaying Binance's logo at a trade show.

(Danny Nelson/CoinDesk)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto withdrawals on Binance are back online after a temporary outage that was due to a "technical issue," according to a post on the exchange's X account.

"The issue is now fixed and all crypto withdrawals on Binance are now back to functioning as usual," the post on the platform formerly known as Twitter, said.

According to etherscan, one of the exchange's wallets last processed a withdrawal before the outage at 10:45 UTC; the update to say it was back online came at 11:55 UTC.

"Technical issue with a middleware service impacting withdrawals. Funds are SAFU. Our team is on it," CEO Changpeng "CZ" Zhao tweeted soon after the withdrawal pause.

The outage comes after around $100 billion was traded across all crypto venues on Tuesday, the highest daily volume since the FTX crash in November, 2022, according to CoinMarketCap.

The rise in activity comes alongside a hike in the price of bitcoin (BTC), which is trading at $34,300 after rallying to a 16-month high on Tuesday.

Binance last halted withdrawals in 2021, at the time citing a "heavy backlog." That outage lasted around 25 minutes.

UPDATE (Oct. 25, 11:41 UTC): Adds Zhao tweet, bitcoin price, previous withdrawals outage.

UPDATE (Oct. 25, 12:50 UTC): Updates headline and opening paragraph to say Binance withdrawals are back online. Adds context throughout.

Edited by Sheldon Reback.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Oliver Knight
Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Follow @OKnightCrypto on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.