More technical issues for the exchange leads to customer complaints, hack talk, and may have pushed Bitcoin price down.
Following a series of technical issues over the last couple of months, it would seem that users of the world’s largest by volume Cryptocurrency exchange are a little bit jittery regarding site security. Thus, when an technical issue caused login problems for Binance yesterday, its customers quickly took to Telegram and other social media channels to query what was going on, according to Finance Magnets.
As has been the site’s modus operandi across all of its recent issues, its staff were quick to respond to queries regarding the issues, and it wasn’t very long before the site’s owner – Changpeng Zhou – had taken to Twitter to allay fears.
We missed a bug that went into prod today, causing DB load issues immediately. It’s being fixed, will take 30-60 minutes. No need to repeatedly login. Just wait until we fix it. Thank you for your understanding and support! Again, #allfundsaresafe.
— CZ (@cz_binance) April 4, 2018
The site’s own Twitter account then quickly added that the problems had been fixed, and the site was back up and running:
Login issues now resolved. If you repeatedly attempted to log in previously, you may still experience some issues; please create a support ticket if this is the case.
Thank you for your understanding and support.
— Binance (@binance) April 4, 2018
Withdrawals, however, took a little longer to come back online following an audit.
The price of Bitcoin seemed to take another dip downwards in the wake of the issues. The price quickly dipped below $7,000 almost immediately on the news, taking a noticeable $250 dive. It got down as low as $6,617 overnight (UK) before rallying somewhat. At time of writing, however, it is still sitting below $7,000 – at around $6,815 according to Cryptocompare.