Binance cryptocurrency exchange has announced a suspension of trading, but has yet to reveal why.
According to CEO Changpeng “CZ” Zhao, an initial analysis revealed that the matching engine had a bug on a trailing stop order.
He added that deposits and trading were suspended as standard procedure. Services would resume in around 30-120 minutes, with more precise estimates imminent.
“We are aware of an issue impacting spot trading on Binance,” the exchange tweeted. “All spot trading is currently temporarily suspended as we work to resolve this as soon as possible.”
The exchange is the world’s largest by trading volume.
This is a breaking news story.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.