Including the several hours Binance had been offline prior to the official announcement of the Binance team, by 2PM UTC, the trading platform would have had been offline for more than 14 hours.
Hong Kong-based cryptocurrency exchange Binance said it won't resume trading or enable customer withdrawals until Friday amid a continued blackout blamed on a prolonged system upgrade.
It added: "Our team is working hard to complete this upgrade as quickly as possible".
After the upgrade is successfully completed, the team will announce the users to continue with Binance.
Binance said that during the period all withdrawals and trading will remain suspended, which has also infuriated many users. "We apologize for any inconvenience caused and thank you for your patience", the message concluded.
Nearly an hour ago, Chengpeng posted an update that the team is running behind schedule as the data synchronization process is taking much more longer than expected.
Binance is one of the biggest and most heavily trafficked cryptocurrency exchanges, with almost $480 million worth of bitcoin passing through its servers in the past 24 hours, according to CoinMarketCap.
Amid the outage, anxious traders suspect a hack on the platform, which Chengpeng denies. The Binance team has assured that it is the regular maintenance of the website as the users were increased.
The notice follows a Tweet mentioning a server issue causing some data to be out of sync.
The outage has sparked fears that the exchange has been hacked, though Binance, responding to such comments on Twitter, has strongly pushed back against the claim. Does the exchange's support response reassure you?
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