Binance Suspend Funds

Marcin Iwański
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One of the largest cryptocurrency exchange platforms in the world – Binance, has suspended its exchange services.

Binance decided to suspend their services after suspicious transactions on the Syscoin market. At 23:00 on Tuesday (03.07.2018) on Twitter Syscoina developers noticed a problem with their blockchain and then asked the exchange platforms to suspend trading possibility with their crypto.

The SYS project confirmed that it had discovered ‘suspicious commercial behavior combined with abnormal blockchain operations.’ It appears that the issue is connected with unusual transactions in Syscoin order books on Binance. More than 87 percent of the total trades of Syscoin takes place on Binance. The value of the currency has raised to 96 bitcoins, while its initial price was around 0.00004 BTCs.

Binance announced in a blog post that he had suspended all trading services of the platform because it would “switch to system maintenance” during which “transactions, withdrawals, and other account features will be suspended.

Today Binance announced that all funds are safe, and they had finished their maintenance.

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