Binance resumes crypto withdrawals after outage

The cryptocurrency exchange Binance announced a temporary suspension of withdrawals of digital assets due to technical issues. The platform’s team is already working on a solution.

The issue is now fixed and all crypto withdrawals on #Binance are now back to functioning as usual.

Thanks for your patience, and we apologise for the inconvenience.

— Binance (@binance) October 25, 2023

Fiat withdrawals are functioning.

“All funds are safe. We apologise for the inconvenience and will report on the progress of the work,” wrote representatives of the exchange.

In September, Binance’s share of total spot trading volume fell to 34.3%. The figure has fallen for the seventh consecutive month. In August it stood at 38.5%, in January — 55.2%.

Earlier in March, CFTC filed a civil lawsuit against the platform. In June the claims against Binance and its founder Changpeng Zhao were brought by the SEC.

After Binance’s exit from Russia some users migrated to new platforms instead of the alternative in the form of the CommEX exchange. Meanwhile, overall trading activity in the country has fallen significantly.