The sharp situation around the outage of Binance – CEO OKEx blocked on Twitter
2 min read
The largest cryptocurrency exchange had a minor technical problem yesterday. During the day, we noticed several outages that had to temporarily suspend the operation of the entire cryptocurrency Binance. The community immediately began to speculate about a possible big problem of the stock exchange. The CEO of the competing OKex Stock Exchange even offered assistance in solving problems. But the whole story has a strange plot.
Starting in the morning, users at Binance, the largest cryptocurrency exchange, could notice technical problems and the subsequent failure of the entire exchange. It took several hours to reestablish exchange. Only in the afternoon was the exchange again 100% accessible and functional. There has been speculation in the crypto community about the crypto exchange hacking, or even the very end. In the end, none of the fears were fulfilled and the stock market is working as it should and without any problems.
Cryptocurrency Exchange is working again
According to the official statement of the General Manager of the Exchange should be a minor technical problem. He assured everyone that they were working to fix the error and there was nothing to worry about.
Immediately under the Twitter post, comments began to accumulate that questioned the crypto exchange.
“What’s behind these problems in the last month? Can you finally work normally? ”
“This is still an unreliable place to trade”
OKEx´s CEO Jay Hao has offered help on Twitter. But later it turned out that Binance had everything under control. The problem was resolved in a few minutes. Traders were given “a few minutes” to cancel trades before resuming trading.
Issue has been fixed. Systems coming back online. "a few" minutes. My best guess will be 15-30 min. But I am usually wrong.
— CZ Binance ??? (@cz_binance) March 4, 2020
Will give a few minutes to cancel orders before trading resumes.
Hey @cz_binance, technically Kafka is a message queue system for log, it's not enough for trading system thus the broker problem will always occur. Need help? https://t.co/8DgIPnqlra
— Jay Hao (@JayHao8) March 4, 2020
In a few minutes after the crypto exchange launch, Jay Hao said on Twitter that CEO Binance had blocked it for an unknown reason. It is not clear to anyone what CEO Binance led to such a vigorous move. Does Binance have any major problems and will therefore block all who are interested?
Summary
We don’t know the answer to this question yet. What we know for sure is that Binance has had problems quite often in recent months. No other exchange in the crypto world is so often shut down due to technical failure. Hopefully, the problems can be solved and Binance will always provide only the best service.
