Binance exchange comes back online, offers big fees discount

If you have a Binance account, the company is keen to keep you using it…

Much later than even the most pessimistic initial estimates, the Binance cryptocurrency exchange finally came back online at around 10am this morning, UK time. That meant a total downtime of around 30 hours, all told, following problems with a upgrade to the heavily used trading platform’s back-end systems.

In a statement on it’s support site, the company thanked its customers for their patience, and announced that it will be offering a 70% discount on its fees until Feb 24th, 2018 by way of compensation. Here’s the statement in full:

Fellow Binancians,

Binance has completed its system upgrade and we expect all trading activity to resume at 10:00 AM (UTC).

In the 60 minutes prior to the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions.

To show our gratitude for your unwavering support throughout the upgrade process, Binance will provide all users with a 70% discount on trading fees (0.03% on all trades, 0.015% with BNB) until 2018/02/24 00:00 AM (UTC).

We sincerely apologize for the inconvenience and your patience is greatly appreciated.

Thank you for your continued support.

Binance Team

Though the firm has denied that the problems with its system was due to a hack, a tweet from the Binance’s creator Changpen Zhao seemed to admit that some there had been an attack on its servers late in the process of getting its systems back online.