Cryptocurrency exchange Binance halted bitcoin withdrawals twice within 24 hours on Sunday and Monday, citing heavy cash out volumes.
For 90 minutes on Sunday morning and again for a few hours later Sunday night, Binance stopped all bitcoin withdrawals on its platform, saying there were too many pending transactions.
“We’ve temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue,” Binance announced on Twitter at the time of the first pause.
“Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals as soon as possible. Rest assured, funds are SAFU,” the exchange said, referring to the company’s Secure Asset Funds for Users, a means of insuring user deposits….